In 1983, the American cryptographer David Chaum developed a cryptographic system called eCash. Twelve years later, he developed another system, DigiCash, that used cryptography to make economic transactions confidential.
However, the first time the idea or term “cryptocurrency” was coined was in 1998. That year, Wei Dai began to think about developing a new payment method that used a cryptographic system and whose main characteristic was decentralization.
First outlined in a 2008 white paper published by Satoshi Nakamoto, a pseudonymous person or group. In early 2009, Nakamoto released Bitcoin to the public, and a group of enthusiastic supporters began exchanging and mining the currency.