Cryptoacademy| Season 3 week 6 | Satoshi Nakamoto, Wei Dai and Cryptocurrency Units by @amritraj

Hey, all here I am submitting my assignment of Satoshi Nakamoto, Wei Dai and Cryptocurrency Units for @awesononso.

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Who is Satoshi Nakamoto?

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Satoshi Nakamoto is an unknown name utilized by the maker of the Bitcoin digital money. Albeit the name Satoshi Nakamoto is regularly inseparable from Bitcoin, the real individual addressed by this name still can't seem to be discovered, persuading that this is the pen name somebody with a personality or character. distinctive gathering of individuals. For a great many people, Satoshi Nakamoto is the most secretive figure in crypto. Up until this point, it isn't certain whether the name alludes to an individual or a gathering of individuals. Obviously, Satoshi Nakamoto distributed an article in 2008, which advanced the improvement of digital currencies. The answer for the conventional twofold spending issue includes the utilization of believed outsider go-betweens to check if the proprietor has utilized the computerized cash. By and large, outsiders, for example, banks can handle exchanges effectively without altogether expanding hazard. Be that as it may, if a believed outsider isn't reliable, this trust-based model actually makes the danger of misrepresentation. The expulsion of outsiders must be accomplished by incorporating digital forms of money into exchanges.

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Claims/Theories of Satoshi Nakamoto’s identity

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Harold "Har" Finney

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Hal Finney, a cryptographer and one of the first users and developers of the virtual currency Bitcoin, died in Phoenix on Thursday. He was 58 years old that year. Finney\u2019s wife, Franfenni, said that Finney was paralyzed due to amyotrophic lateral sclerosis or A.L.S and lost life support at Paradise Valley Hospital. She said that according to her wishes, the Alcor Life Extension Foundation in Scottsdale, Arizona was immediately ready to cryopreserve her body. Mr. Finney graduated from California Institute of Technology and is a long-term futurist. He uses his programming skills to realize his ideals, especially hoping that people's privacy will be protected. In 1991, he began to volunteer for a new software project called Pretty Good Privacy (P.G.P.) and immediately became one of the core participants in the development of the program. P.G.P. It aims to enable people all over the world to encrypt electronic communications in a way that no one except the intended recipient can read. The program uses relatively new innovations in encryption that are still considered invulnerable to password crackers.

Craig Wright

^{https://images.app.goo.gl/q3DdEr5yGjYNhdYC7}

Craig Wright (b.1970) is an Australian computer scientist who claims to be Satoshi Nakamato. According to Wright, he participated in the creation of Bitcoin along with his friend, the late computer security expert Dave Kleiman. After Wired magazine and Gizmodo raised the possibility that he is Satoshi Nakamoto in an article in December 2015, he made this claim. The article cited numerous sources, including Wright\u2019s e-mail correspondence and chat transcripts with acquaintances, referring to business transactions defending his case. Wright's statement has aroused conspiracy and suspicion in the Bitcoin community. Some people support his statement. For example, Gavin Andresen, director of the Bitcoin Foundation, who communicated with Satoshi Nakamoto during the initial programming of Bitcoin, stated that he was \u201cunquestionably convinced\u201d that Wright was Satoshi Nakamoto. But critics basically distrusted Te's story and asked for conclusive evidence. Security researcher Dan Kaminsky pointed out that Wright had failed to prove his story to support his claim that the entire exercise was a hoax.

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Who is Wei Dai?

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Wei Dai began his career as a programmer at TerraSciences in Acton, Massachusetts. In this company, Dai is committed to developing security solutions and secure communications for control stations in the oil and gas industry. Later, Wei Dai became part of the Microsoft Crypto Research Group in Redmond, Washington. During his work at Microsoft, he participated in the research, design and implementation of a dedicated application encryption system. It was at that time that it registered patents 5724279 and 6081598. Both patents are aimed at optimizing encryption algorithms in Microsoft's technology stack. These work proved to be the key to Microsoft's implementation of efficient encryption algorithms, which can be used in the company's various software tools. Especially those software that intensively use the RSA algorithm to protect their data.

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What is the current value of Bitcoin on the day you are performing this task? Calculate the USD value of one satoshi of the current value. (Show full working and to 3 s.f).

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Visit coincapmarket and check the Btc price and calculation according to the price will be.

1 satoshi = 1/100000000 x 1 BTC
1 BTC = $43,404.20
∴ 1 satoshi = 1/100000000 x 43,404.20
1 satoshi = $0.00023039245
1 satoshi = $0.000230 (to 3 s.f)

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What is the current value of Ether on the day you are performing this task? Calculate the USD value of one Gwei of the current value. (Show full working and to 3 s.f).

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Visit coincapmarket and check the price of ethereum and start the calculation like

1 Gwei = 1/1000000000 x 1 Ether
1 Ether = $3,083.80
∴ 1 Gwei = 1/1000000000 x 3,083.80
1 Gwei = $0.00000308386
1 Gwei = $0.00000308 (to 3 s.f)

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Transfer 0.001 Steem to an account. Then send 0.0001 steem. Show what happens and state why.
(Screenshots with username tag).

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TRANSACTION OF 0.001 STEEM

In wallet click on drop down of steem and then transfer fill the details and press next.

Transcation is done we can see in the history of steem wallet.

Transcation of 0.0001 steem

When we do the same steps and fill the details we will get a error.

This is because the minimum steem allowed from the wallet transcation is three decimal digit no. And here we are trying to do smaller than that so this error occur.

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Conclusion

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In this topic we come to know more about in detail about the satoshi namakato and their claims and theories. I practised and understand learnt calculation of btc to satoshi and ether to gwei.

And the minimum transcation can be done on steemit platform and specific things about wallet transcation.

So, this topic is really helpful in beginning level of crypto platform and currency Thank you @awesononso professor for this lecture.