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Hello everyone,
I'm very delighted to participate in this week's lecture. This class is mentored by our crypto-professor @awesononso which centered on the identities of SATOSHI NATAMOTO and other founders of cryptocurrency and their contributions.

This post is structured based on the homework tasks given at the end of the Lecture as stated below:

• WHO IS SATOSHI NATAMOTO
• WRITE ON TWO CLAIMS/THEORIES OF SATOSHI NATAMOTO'S IDENTITIES
• WHO IS WEI DAI
• WHAT'S THE CURRENT VALUE OF BITCOIN ON THE DAY OF DOING THIS HOMEWORK, CALCULATE THE USD VALUE OF ONE SATOSHI OF THE CURRENT VALUE(SHOW FULL WORKING AND LEAVE THE ANSWER AT 3S.F)
• WHAT'S THE CURRENT VALUE OF ETHEREUM ON THE DAY OF DOING THIS HOMEWORK, CALCULATE THE USD VALUE OF ONE GWEI OF THE CURRENT VALUE (SHOW FULL WORKING AND LEAVE THE ANSWER AT 3S.F)
• TRANSFER 0.001STEEM TO AN ACCOUNT, TRANSFER 0.0001STEEM AND EXPLAIN WHAT HAPPENS WITH SCREENSHOTS

WHO IS SATOSHI NATAMOTO

SATOSHI NATAMOTO Is a popular name in the world of cryptocurrencies due to the useful contribution of the person/organizations. But the question, who is he/she/they? Can't be answered easily because there's no documents concerning the person/organizations that did this marvelous works. Nobody/group claims to be he/them. Only having his/their names "SATOSHI NATAMOTO" is not enough to discuss about his personality and other qualities of him/them.

The person/group behind this tag or names does not want us to know his/their personalities but really want us to appreciate their contributions as in the area of development of the first ever cryptocurrency - Bitcoin and enhancements of the performance of Blockchain technology.

Bitcoin's invention by Satoshi Natamoto have brought a lot of innovative development on the financial transactions and policies. It decentralizes the means of financial authority and ushered in the new horizon to financial transactions without intermediaries. It engeared more transparency, accountability and reliability to the financial world.

WRITE ON TWO CLAIMS/THEORIES OF SATOSHI NATAMOTO'S IDENTITIES

There are many individuals whom the media have attached the identity of Satoshi Natamoto to. These people might be cryptocurrencies experts or may have done something to fuel the theories. Some don't even deny the theories about being the person/part of the group - Satoshi Natamoto. Let's check two of these theories;

HAL FINNEY

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He is a wonderful computer scientist that contribute immensely to the development of proof of work (POW) mechanism, the consensus mechanism for Bitcoin and become the receiver of the first bitcoin transaction. Being a known figure in this system with many useful and early contributions to the bitcoin's invention where many are unknown, he was attached to be Satoshi Natamoto.

It seemed so obvious to me: "Here we are faced with the problems of loss of privacy, creeping computerization, massive databases, more centralization - and David Chaum offers a completely different direction to go in, one which puts power into the hands of individuals rather than governments and corporations. The computer can be used as a tool to liberate and protect people, rather than to control them."Source

With the statement above accredited to Finney a Cypherpunk, many claim that he/part of Satoshi Natamoto. He later denied the claim but very known because of his contributions to the early invention of Bitcoin.

DORIAN SATOSHI NATAMOTO

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Having the birth name with the name attached the inventor of this wonderful digital coin, Bitcoin. Many said that he is the person behind the invention of Bitcoin which he vehemently denied and said that he have not heard of the coin before.

Being a trained physicist and financial expert and Japanese American, Media speculators attached the existence of bitcoin to him. He even encouraged his daughter to start up her own business without the Governmental influences suggesting the fact behind cryptocurrencies, a financial autonomy without Governmental influences and centralized authorities.

I am no longer involved in that and I cannot discuss it. It's been turned over to other people. They are in charge of it now. I no longer have any connectionSource

With this statement above made from him during interview show that his involvement with the development of bitcoin and still his denial of being the face behind the invention of Bitcoin.

WHO IS WEI DAI

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Wei Dai is a Chinese computer engineer who contribute immensely in the development of cryptography and cryptocurrency. He developed the Cryptographic library Crypto++ and b-money, a digital financial system.

Trained as a computer scientist, his immense contributions to the development of cryptography library and other projects on the Blockchain are endearing. Having a tech gurus that he trained, working for the crypto++ and making useful impact to the development of cryptography and Crypto-currencies.

He developed the first ever digital financial system called b-money. Many look at it as the predecessor to the Bitcoin although was not launched but have very wonderful features of the great coin bitcoin. It proposed a (POW) as the consensus mechanism, a rewarding system for the miners, a collective database system for recording of transaction data, Exchange of the fund with the help of Cryptographic hashing and broadcasting and confirmation of the transaction cryptographically.

However, He was named after the standard of measurements for ether, a native coin of Ethereum network. wei is the smallest unit of Ether on the Blockchain.

1 wei = 0.000000000000000001ETH

STANDARD MEASUREMENTS FOR ETHEREUM ON BLOCKCHAIN

UNIT	Symbol	VALUE (ETH)
ETHER	ETH	1
PETA WEI/MILLIETHER	Pwei	0.001
TERA WEI/MICROETHER	Twei	0.000001
GIGA WEI	Gwei	0.000000001
MEGA WEI	Mwei	0.000000000001
KILO WEI	Kwei	0.000000000000001
Wei	Wei	0.000000000000000001

WHAT'S THE CURRENT VALUE OF BITCOIN ON THE DAY OF DOING THIS HOMEWORK, CALCULATE THE USD VALUE OF ONE SATOSHI OF THE CURRENT VALUE(SHOW FULL WORKING AND LEAVE THE ANSWER AT 3S.F)

According to the COINMARKETCAP.COM, THE CURRENT VALUE OF BITCOIN NOW BEING AUG 07,2021 IS $43,258.15

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CALCULATIONS OF THE USD VALUE OF ONE SATOSHI OF $43,258.15

Solution
1 Satoshi =1/100000000 X 1 BTC
1 BTC = 43,258.15
Therefore 1 Satoshi = 1/100000000 X 43,258.15
1 Satoshi = $0.0004325815
1 Satoshi = $0.000433(3.s.f)

WHAT'S THE CURRENT VALUE OF ETHEREUM ON THE DAY OF DOING THIS HOMEWORK, CALCULATE THE USD VALUE OF ONE GWEI OF THE CURRENT VALUE (SHOW FULL WORKING AND LEAVE THE ANSWER AT 3S.F)

According to the COINMARKETCAP.COM, THE CURRENT VALUE OF ETHEREUM NOW BEING AUG 07,2021 IS $2,923.39

Although Wei is the smallest unit, Gwei is mostly used.
CALCULATIONS OF THE USD VALUE OF ONE Gwei OF $2,923.39

Solution
1 Gwei =1/1000000000 X 1 ETH
1 ETH = $2,923.39
Therefore 1 Gwei= 1/1000000000 X 2,923.39
1 Gwei = $0.00000292339
1 Gwei = $0.00000292(3.s.f)

TRANSFER 0.001STEEM TO AN ACCOUNT, TRANSFER 0.0001STEEM AND EXPLAIN WHAT HAPPENS WITH SCREENSHOTS

These are steps involves to transfer fund to another account.

• STEP ONE
  LOG INTO MY WALLET

• STEP TWO
  SELECT AND CLICK ON TRANSFER

*STEP THREE
TYPE IN THE AMOUNT OF THE FUND(i.e,0.001steem) and the receivers username (i.e, @awesononso).

Click on NEXT

• STEP FOUR
  CONFIRM THE TRANSACTION

CLICK ON OK

EVIDENCE OF THE TRANSACTION

SECONDLY

TRANSFER 0.0001STEEM TO THE ACCOUNT @awesononso.

Follow the steps above. But, on steps three, change the amount of the fund to 0.0001steem. click Transfer. This is what that will happen:

OBSERVATIONS
TRANSFER OF 0.001STEEM WAS SUCCESSFULLY BUT 0.0001steem WAS NOT SUCCESSFULLY BECAUSE STEEM ALLOW THE USE OF 3s.f for PRECISION AND DOES NOT HAVE OTHER SUBUNITS AND A STANDARD OF MEASUREMENTS LIKE OTHER CRYPTOCURRENCIES DISCUSSED ABOVE LIKE BTC, ETH ETC.

CONCLUSION

There are great mind that contributed immensely for the inventions of this innovative ways of financial transactions. Their works are known and appreciated but some identities of those inventors remains unknown while many others have been attached the identity of some of those inventors.

There's a standard of measurements for many of these cryptocurrencies while others are still developing. Maintaining a standard encourages precision.