Crypto Academy // Season 3 // Week 6 - Homework Post for professor [@awesononso] Satoshi Nakamoto, Wei Dai and Cryptocurrency Units of Measurement by @obikay
The popular name "Satoshi Nakamoto” is generally known as the founder of the now universal cryptocurrency Bitcoin, but who is he? It appears to be more complicated than it is, knowing him in person.
After more research has been made, it was obvious that there is no trace to the biography or personal details of the above mentioned name “Satoshi Nakamoto.” In actual fact, Satoshi Nakamoto is a name that was used by the people or the person that brought about the existence of cryptocurrency.
The said name was connected with the Bitcoin in the year 2008, with a white paper named: peer to peer electronic cash system. These paper had the details and the foundation on how the digital currency would function.
The paper presented the peer-to-peer network that would be the blockchain.
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Hal Finney
Hal Finney maybe in a good position to be Satoshi. Nevertheless, there is a strong evidence connecting him to the creation of Bitcoin. He is computer security and cryptography enthusiast.
One of the leading key was a tweet he published on Twitter on January 10, 2009, few hours that was after Nakamoto released the version 0.1 of the Bitcoin software.
He made a tweet via Twitter “Running Bitcoin,”. After two days, 10 Bitcoins was sent to his account by Nakamoto. These made him the first person to get Bitcoin transfer.
Before he died, he published a letter named Bitcoin and I, which he said a story about himself and the cryptocurrency. Some other things, he made mention of, to run the Bitcoin client after Satoshi. He also regards himself fortunate to be in the creation of Bitcoin but Hal Finney denied been Satoshi after an interview with a journalist.
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Nick Szabo
Nick Szabo a degree holder in computer science who graduated from the University of Washington and also holds a law degree from George Washington University Law School.
Nick Szabo is a computer scholar, lawyer, and cryptographer, little did he know he unknowingly set the foundation for Bitcoin. He designed the theoretical mechanism for the decentralized digital currency which he named as the Bit Gold, which was never materialized, he also designed Smart Contracts, which was the main feature of cryptocurrency with the purpose of High progressive practices of contract law and practice to the design of electronic commerce protocols between two persons on the Internet.
Wei Dia was a graduate from the University of Washington where he studied computer science. wei Dai has contributed a lot to cryptography and cryptocurrency in general. He came up with the crypto++ cryptographic library also developed the bmoney cryptocurrency cash system.
He also involved with Ted krovets on the VMAC message authentication code. Satoshi also contacted wei as the creation of Bitcoin was in progress with the bmoney paper been referenced to the Bitcoin white paper. wei Dia was also suspected to be Satoshi but he also denials not been him.
value of Bitcoin presently
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CALCULATION
1 Satoshi = 1/100000000
1 BTC = $38,597.24
1 Satoshi = 1/100000000 × 38,597.24
1 Satoshi = $0.0003859724
1Satoshi = $0.000386 (to 3 s.f)
CALCULATION
1 Gwei = 1/1000000000 ×1 ETH
1 ETH = $2,488.38
1 Gwei = 1/1000000000 × 2.488.38
1 Gwei = $0.00000248838
1 Gwei = $0.00000249 (to 3 s.f)
(Screenshots with username tag)
Sending 0.001 Steem to a friend
Now I will try to send 0.0001 Steem to a friend also
Now we can see that this transaction did not pull through because of the 4 decimal place. Unlike the first transaction that went successfully which was in 3 decimal place.
Thank you professor @awesononso for the lecture.