Hello steemians,
I hope, you are all well. This week Crypto Academy has assigned very interesting topic and i have completed my task with blessing of God.It is mine pleasure to have approach in this assignment. The lectured delivered by the honorable professor was very efficient and in professional manners due to which I have become able to answer all the questions given in assignment.

Assignment Questions

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).

1. Who is Satoshi Nakamoto?

When we discuss about the Bitcoin the name of Satoshi Nakamoto could not be forgotten. Name of that personality comes first when we discussed about the Bitcoin.That person provided the foundation in the field of crypto currencies and block chain technology through providing the gift of Bitcoin. Owing to this revolution the lives of personalities has been changed. A revolution has been taken place in the field of online business through this invention. Satoshi Nakamoto was born in Jeanine 1975, and is known as inventor of Bitcoin in 2009 and implemented the first blockchain. Bitcoin is not limited to any government but is open source programme. Satoshi Bitcoin has also provided the framework for other currencies. Hence, also known as the backbone of all currencies.

2. Write on two claims/theories of Satoshi Nakamotos identity.

There has been many attempts about the true identity of Satoshi Nakamoto. Many speculations till now has been made but it is considered that nobody knows well about the background of emergence of Bitcoin. I am going to explain in my study the two individuals who have been the real Satoshi Nakamoto.

1. Craig Wright

Source

In December 2015, Wired Magazine published a full profiled on that personality. It had claimed about the true identity of Satoshi Nakamoto. In “cryptocurrency paper” Wired expose evidence on Wright’s blog that appeared one month before the Bitcoin whitepaper. Inspire that, there were hidden email which were been leaked and other related correspondence with Wright lawyer.

However , in addition to all these there has been other leaked transcript of meetings with other officials quoted as saying: “I did my ever best to try and hide the related facts that I have been working with bitcoins since 2009.
These claims were doubtful. Wired noted many inconsistencies in theory, e.g. All the blogged entries were shown as backdated and all the published keys linked with Satoshi Nakamoto were also belonged to backdated. Even that the co-founder of Ethereum, also came in front against the Wright’s theory and called it a fraud.
But, the Wrights remained consistent against all criticism and developed the attention by providing the efficient role with in the crypto currencies community.

2. Dorian Nakamoto

Source

Many recognition have been made about the linked of Dorian Nakamoto involvement with cryptocurrencies, but, he has denied it all. Such as, a reporter L.G. Goodman in his newspaper called Leah exposed story in front of the world regarding the creator of Bitcoin. Leah’s report pointed to a 64 years old physicist in retirement, Dorian Nakamoto, as the answer to the puzzle.

Similarly , the commentary of Dorian made when he spoke with Leah increased the intensity of thinking. Dorian stated that “he was no longer involved in that” and that “he cannot discuss it”. McGrath assumed that the world “it” is confused and depicting the illusion to Bitcoin.

The other argument which Leah made is the birth name.Goodman gave awareness that the name of Dorian in birth time is actually the “ Satoshi Nakamoto” Dorians educational and professional background also made the Leah to jump such type of conclusion. However, despite of all these expositions Dorian denied any involvement with crypto currencies.

3. Who is Wei Dai?

The name of Wei Dai is very important in the field of Crypto currencies. He is literate in computer engineering field and has many contributions in the crypto currencies and cryptography. Dai is a Chinese computer engineer who has made a lot of influences in the global world of computer.

He exposed the projects like Crypto++ and VMAC. With except to this he has made contribution in b- money too.He developed the whole system of crypto currency, created the b-money system of crypto currency and also helped in VMAC massage authentication system. The Ether sub unit is “the wei” which is named after him.
His main work was with the computer based because he was literate in computer engineering field. He also gives the concept of b-money in front of global world which was later implemented in all types of crypto currencies.

4. 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).

In order to cater with the forms of different transaction, Bitcoin is used as a medium of exchange the smaller and larger units. Here is given the current value of bitcoin.
Current value of bitcoin:

Source

Table below highlights the various units of Bitcoin and their corresponding values:

CALCULATION
As at the time of making this post 1 BTC =$ 40,445.34.
Using the value in the table above,we have :
1 Satoshi = 1/100000000 × 1 BTC
1 BTC = $ 40,445.34
1 Satoshi = 1/100000000 × 40,445.34
1 Satoshi = 0.0004044534
1 Satoshi = 0.000404 (to 3 s.f)

5. 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).

Current value of Ethereum:

Source

CALCULATION

As at the time of making this post 1 Eth= $2752.41.
Using the value in the table above.
1 Gwei = 1/1000000000 × 1 Eth
1 Eth = $2752.41
1 Gwei = 1/1000000000 × 2752.41
1 Gwei = 0.00000275241
1 Gwei = 0.00000275(to 3 s.f)

6. Transfer 0.001 Steem to an account. Then send 0.0001 steem. Show what happens and state why.

I am going to explain the transfer system of steem to the account and let’s see the what happened. With the help of screenshots below the detail is obvious to everyone.

First i transfer 0.001 steem and lets see:

Transaction was not successful because of insufficient fund in my account, if I have required amount then its clear that steem can accommodate values of 3 decimal places.

Now going to transfer 0.0001 steem and check the detail:

Same case here, because of insufficient fund in my account. But, I just want to clarify that steem does not support more than 3 decimal places. S, if we want to have successful transaction, then its compulsory to have steem in three digits or below three digit places.

FINALLY
In this assignment I have learnt a lot about the concept of Satoshi Nakamoto, claims, theories to identity and about wei Dai. I have learnt about the calculations of currencies. Hence, this has proved very useful for me.