Steemit Crypto Academy Season 3 Week 6 from @awesononso submitted by @beautybb 3/8/21

in SteemitCryptoAcademy3 years ago
Is another week of great lessons,as a student i have learned more from this lesson,below is my entry

Who is Satoshi Nakamoto?

Write on two claims/theories of Satoshi Nakamoto’s identity.

Who is Wei Dai.

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).

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).

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

Who is Satoshi Nakamoto?

This is a man that brought success to millions of lives,tho no one can identify him in particular but his works speaks for him positively,

Satoshi Nakamoto was the inventor of Bitcoin,firstly in 2008 he published Bitcoin white paper and invented Bitcoin in 2009,

He created a decentralized system that has been of a great benefit till date,he brought a positive result to cryptocurrency and blockchain technology.sadly after creating this wonderful freedom he was no where to be found by the year 2010.

Write on two claims/theories of Satoshi Nakamoto’s identity.

There has been some claims of Satoshi Nakamoto for example;

Craig wright was one of them.

7b4e7ce0-b494-4905-bc46-505b4f88b270_FINAL-1.jpgsource

Craig wright was an Australian scientists and a cryptographer who was among those who implemented Bitcoin cash hard fork which rised to Bitcoin.he used same same email address a Nakamoto to make it seem as if he is Nakamoto.

He set rules against anti-authoritarianism like Nakamoto.
He evolved standards for cryptocurrency,but despite all this the media and cryptocurrency world proved his claim to be false.

The second claim was ;

Harold “Hal” Finney:

31finney-pic1-jumbo.jpgsource

Harold Hal Finney was a cryptographer the first person to use Bitcoin network and he received Bitcoin directly from Nakamoto,s first transaction,he received direct mails from Nakamoto for Bitcoin project this made it easy for people to conclude that he would likely be Nakamoto,but he never accepted that he is Nakamoto.

Who is Wei Dai?

Weidai.pngsource

Wei Dai was a renowned cryptographer and a computer engineer also known as cyherpunk who originated B-money,he also developed crypto++ library.
Crypto++ is also known as Cryptopp ,libcrypto++and libcryptopp which happens to be an open source used in business projects.

More to that he also initiated another project called VMac ,he tried he best in bringing success to decentralized system.

Dai,s initiation of B money initially didn't work out well but later turned to basic success to cryptocurrency,Satoshi Nakamoto even referred to Dai,s work on Bitcoin white paper and they contacted each other through emails,but with all this Dai never accepted that he is Satoshi Nakamoto.

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).

By 10:10am when i was performing this task Bitcoin price was $38,540.09
iMarkup_20210803_101733.jpgsource
So lets calculate;
1 satoshi= 1/100000000×BTC
1 BTC=$38,540.09
Then
1 satoshi=1/100000000 ×38,540.09
1 satoshi= $0.0003854009
1 satoshi= $0.000385 (result upto three square feet)

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).

By 10:32am when i was performing this task Ether was $2,493.56
iMarkup_20210803_103211.jpgsource
My calculation

1 Gwei=1/1000000000×1Ether
1 Ether=2,493.56
1Gwei=1/1000000000×2,493.56
1 Gwei=$0.00000249356
1Gwei=$0.00000249(to3sf)

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

Step one

Login to my wallet and click transfer

iMarkup_20210803_111221.jpg

Step 2

Put in the user name you want to transfer to,and how many steem you are transferring.
iMarkup_20210803_110742.jpg

Step 3

Put in your active owner key to enable the transfer

iMarkup_20210803_110849.jpg

Then confirm the transfer by clicking ok

iMarkup_20210803_112128.jpg

Lets send 1.0009 steem and see what happens

iMarkup_20210803_105216.jpgthe red writeup shows the steem transfer cant go beyond 3 decimal digit.

That means that lowest value we can transfer in #steemit is 0.001, be it on SBD, Steem or SP.

Conclusion

This lesson has thought me a lot about the history of cryptocurrency world, and i can be able to share with friends how cryptocurrency started,who Satoshi Nakamoto was and his impact on the lives of millions.
I also learned about people who claimed to be Satoshi who were fraud.and also some who had positive impact on cryptocurrency world.

Thank you @awesononso for this lecture

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