What is yearn.finance?
yearn.finance is a cryptocurrency, that is, a virtual currency that operates in a decentralized manner, without being controlled by an entity or group of people. The basic idea of the cryptocurrency was to provide a payment system in which the involvement of third parties is no longer needed to verify transactions.
When did yearn.finance appear?
yearn.finance was launched to the public in 2009. On January 3, 2009, the first Bitcoin block was mined. This is considered to be block 0, also called the “genesis block”.
Who invented yearn.finance?
yearn.finance was invented by a person or group of people under the pseudonym Satoshi Nakamoto. In August 2008, the domain bitcoin.org was registered. Due to WhoisGuard data protection, the identity of the creator or creators of Bitcoin is still unknown. In October 2008, Satoshi Nakamoto announced via email that he had been working on an electronic financial system that works from person to person, without the involvement of third parties. He/they published a document that explains Bitcoin’s functionality in more detail. This document is called the bitcoin whitepaper and has been used as a source of inspiration for numerous other cryptocurrencies.