Given this paragraph about blockchain, how did blockchain influence bitcoin cryptocurrency?
Blockchains are typically managed by a peer-to-peer (P2P) computer network for use as a public distributed ledger, where nodes collectively adhere to a consensus algorithm protocol to add and validate new transaction blocks. Although blockchain records are not unalterable, since blockchain forks are possible, blockchains may be considered secure by design and exemplify a distributed computing system with high Byzantine fault tolerance. A blockchain was created by a person (or group of people) using the name (or pseudonym) Satoshi Nakamoto in 2008 to serve as the public distributed ledger for bitcoin cryptocurrency transactions, based on previous work by Stuart Haber, W. Scott Stornetta, and Dave Bayer. The implementation of the blockchain within bitcoin made it the first digital currency to solve the double-spending problem without the need of a trusted authority or central server. The bitcoin design has inspired other applications and blockchains that are readable by the public and are widely used by cryptocurrencies. The blockchain may be considered a type of payment rail.
Blockchain is the technology that enables the existence of cryptocurrency and bitcoin is the name of the best-known cryptocurrency. The implementation of bitcoin using blockchain made it the first digital currency to solve the double-spending problem without the need of a trusted authority or central server. Bitcoin has inspired other applications and blockchains that are highly available, public, and are widely used by cryptocurrencies.
Instruction: Given this paragraph about blockchain, how did blockchain influence bitcoin cryptocurrency?
Context: Blockchains are typically managed by a peer-to-peer (P2P) computer network for use as a public distributed ledger, where nodes collectively adhere to a consensus algorithm protocol to add and validate new transaction blocks. Although blockchain records are not unalterable, since blockchain forks are possible, blockchains may be considered secure by design and exemplify a distributed computing system with high Byzantine fault tolerance. A blockchain was created by a person (or group of people) using the name (or pseudonym) Satoshi Nakamoto in 2008 to serve as the public distributed ledger for bitcoin cryptocurrency transactions, based on previous work by Stuart Haber, W. Scott Stornetta, and Dave Bayer. The implementation of the blockchain within bitcoin made it the first digital currency to solve the double-spending problem without the need of a trusted authority or central server. The bitcoin design has inspired other applications and blockchains that are readable by the public and are widely used by cryptocurrencies. The blockchain may be considered a type of payment rail.
Response: Blockchain is the technology that enables the existence of cryptocurrency and bitcoin is the name of the best-known cryptocurrency. The implementation of bitcoin using blockchain made it the first digital currency to solve the double-spending problem without the need of a trusted authority or central server. Bitcoin has inspired other applications and blockchains that are highly available, public, and are widely used by cryptocurrencies.