Satoshi Nakamoto - the creator of Bitcoin. Satoshi Nakamoto is the name, used by the person or persons, who developed bitcoin, wrote its white paper and created and deployed the original bitcoin reference implementation. As part of the implementation, Nakamoto also developed the first blockchain database. He was actively involved in the development of Bitcoin until December 2010.
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Who is Satoshi Nakamoto anyway?
Satoshi Nakamoto was involved in the development of Bitcoin, working on the first version of the code in 2007. Communication with him was carried out by email. The lack of personal and reference data meant that it was impossible to know the actual identity of the name. The identity of Nakamoto is unknown, but speculation has centered on various cryptography and computer science experts, mostly of non-Japanese origin. Possible personalities:
- Hal Finney was a pre-Bitcoin cryptography pioneer and the first person (other than Nakamoto himself) to use the software, file bug reports and make improvement;
- Dorian Nakamoto seemed to confirm his identity as the founder of bitcoin, stating: "I am no longer involved in this and cannot discuss it. It has been passed on to other people. Now, they are in charge of it. I no longer have any connection";
- In December 2013, blogger Sky Gray linked Nick Szabo to the Bitcoin White Paper, using a unique approach. Szabo is a decentralized currency enthusiast and has published an article about "bit gold", one of Bitcoin's predecessors. He is known to have been interested in using pseudonyms in the 1990;
- On December 8, 2015, Wired wrote that Craig Steven Wright, an Australian scientist, "either invented bitcoin or is a brilliant scammer. Craig Wright deleted his Twitter account, and neither he nor his ex-wife responded to press inquiries.
In a 2011 article in The New Yorker, Joshua Davies claimed to have narrowed down Nakamoto's identity to a range of possible people, including Finnish economic sociologist Dr. Wily Ledonwirth and Irish student Michael Klier, who in 2008 was a cryptography student at Trinity College Dublin. Clear vehemently denied that he was Nakamoto, as was Lehdonvirta. Elon Musk denied he was Nakamoto in a tweet on November 28, 2017, responding to speculation last week in a Medium post by a former SpaceX intern.
Creation of Bitcoin
Nakamoto stated that work on writing the code for bitcoin began in 2007. On August 18, 2008, he or a colleague registered the domain name bitcoin.org and set up a website at that address. On October 31, Nakamoto published a White Paper on the cryptography mailing list, describing a digital cryptocurrency, called "Bitcoin: A Peer-to-Peer Electronic Cash System". On January 9, 2009, Nakamoto released version 0.1 of the Bitcoin software on SourceForge and launched the network by identifying the Bitcoin genesis block (block number 0), which received a reward of 50 bitcoins. Embedded in this block is the text: "The Times 03/Jan/2009 Chancellor on the threshold of a second bailout for the banks" referring to the headline of the British newspaper The Times. The note was interpreted as a timestamp and commentary on the alleged instability, caused by fractional reserve banking. Nakamoto continued to collaborate with other Bitcoin software developers until mid-2010, making all changes to the source code himself. He then handed over control to Gavin Andresen, gave several related domains to various prominent members of the bitcoin community and ended his acknowledged involvement with the project. Nakamoto owns between 750 thousand and one million bitcoins.
Bitcoin security
Bitcoin - the most widely used and well-known cryptocurrency. Now, more than 100 million people around the world use it. But Bitcoin and many other cryptocurrencies are extremely volatile. Their prices fluctuate greatly. Bitcoin is built on a distributed digital record, called a blockchain. As the name suggests, a blockchain is a linked collection of data, made up of units, called blocks, containing information about each transaction, including date and time, total value, buyer and seller, and a unique identification code for each exchange. The entries go in chronological order, creating a digital blockchain.
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