Steemit Crypto Academy [Beginners Level]|Season 3 Week 6 |Satoshi Nakamoto, Wei Dai and cryptocurrency unit of Measurement.

Thank you prof. @awesononso for the lecture well delivered for week 6. I went through it and decided to attempt the homework. Here is my entry below. I hiope you find it interesting.

Satoshi Nakamoto has become an household name in the cryptocurrency space, this name has been used to tagged the founder of bitcoin world but the twist here is that no one really knows the face behind this name since the success of bitcoin, which stands today as the first ever cryptocurrency on the blockchain. Judging from the name (Satoshi Nakomoto) it is believed that this founder must have been from Japan but on the contrary, his diction and mode of interaction points out that he his british or from one of the commonwealth nations this has further made the identity very difficult to uncover. Research also showed that he was in England when he mined the first block according to ‘Times headline’.

There had been several interviews and investigaton carried out to really find out who this person is but all to no avail. It is also important to mention that there are lot of people that has been question due to their association with the coin but they all claim that they were not the founder. It therefore means that the founder disappeared after the successful launching of the coin. So many are of this belief that Satoshi Nakamoto is not just an individual but a group of people whichever way is fine with me personally because the project is a success every other thing doesn’t matter because this has helped solved many of the problems face by people in the centralized financial system.

In a bid to uncover who the founder of bitcoin is, a crypto enthusiast and developer Nick Szabo, who has been a part of the bitcoin move from inception was also suspected to be the founder of bitcoin. They assumed he is operating under a disguise according to the careful observation and research done by some linguistic experts. They discovered that the way Nick writes has a strong semblance with the way the founder of bitcoin wrote the bitcoin whitepaper. ‘New York times’ a popular newletter also tagged Nick Szabo as the founder of bitcoin although Szabo also created his own cryptocurrency he called ‘bitgold’ but that doesn’t still give a concreat evidence. Nick openly denied all these claims stating that he is not Satoshi.

Elon musk was not left out of this saga of unveiling the real identity of the bitcoin creator, recently he was also suspected to be the creator although we all know that he owns Tesla and SpaceX which he openly acknowledges but somehow people still has this belief that he owns bitcoin too. He also came out openly in 2018 and strongly denied this claim by whoever pronounced him as the creator of bitcoin or Satoshi Nakamoto. It is important to state here that we might really find it difficult to really tell who satoshi is as over 13 people has been suspected to be satoshi and all have openly denied although some had been following bitcoin from inception but they openly denied the the claim that they created the coin nor publish its white paper

According to my research Wei Dai is a computer expert proficient in cryptography and cryptocurrency. He created the crypto++ library. He has immensely contributed to cryptography and also identified and improved on the deficiencies in CBC (critical Block Chaining). Another importing thing Wei Dai is noted for is the proposal of B-money which actually fueled the need for electronic cash or what later developed into what we call cryptocurrency today. Although it was proposed but it never came into reality, we only saw it shadow in Satoshi Nakamoto’s Bitcoin and other cryptocurrency we have today. Wei Dai was said to have a kind of association with the bitcoin creator in that his proposal was built upon to have the first and the biggest coin we have in the world presently. It was recorded that he contacted Satoshi in year 2008 while he was working on bitcoin, this claim was later confirmed because the b-money paper was later referenced in the Bitcoin white paper.

As at the time of attempting my homework,bitcoin in dollar was $39,545.82

As at the time of attempting my homework, ETH in dollar was $2591.27

Sending 0.001 steem to a steemians (@dibie) was allowed.

but sending 0.0001 as required in the homework wasn't allowed. It therefore means that anything beyond 3 decimal point is not allowed on steemit although there is no official measurements stating that but that is the current status quo on steemit.

While it is very difficult to really tell who the person behind bitcoin is, we should appreciate the legacy he he left before disappearing into thin air, it actually paved way for the blockchain technology and the Defi system we now enjoy today. Although I wont conclude by saying the system is flawless, but I will say that ROME wasn’t built in a day, there is always room for improvement.

Thank you so much for this wonderful lecture prof. @awesononso. it has indeed opened me up to this thing I never knew before now about these bitcoin and many of the personalities I understudied in the course of my research.