Steemit Crypto Academy [Beginners’ Level] | Season 3 Week 6 | Satoshi Nakamoto, Wei Dai and Cryptocurrency Units of Measurement for the professor @awesononso .

in SteemitCryptoAcademy2 years ago (edited)

Hope you will all well . I am also fine by the grace of Allah Almighty . I am really very glad to participate in this lecture . I am thankful to respected professor @awesononso for this interesting and amazing lecture. Now we get started explanation of this lecture without wasting the time .

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1)WHO IS SATOSHI NAKAMOTO??

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Satoshi is also called as a pseudonyms , who was inventor the first blockchain database-Bitcoin. He invented the Bitcoin (Decentralized virtual or the digital cryptocurrency ) who wrote the white paper and created the first Genesis Block .

In 2008 Satoshi published the whitepaper untitled: Bitcoin, peer to peer electronic system. Later, he released the Bitcoin software and put the first cryptocurrency known to mankind . Satoshi was working in the development of Bitcoin until December 2010. When he cut off the connection with world .

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2) WRITE TWO CLAIMS OF SATOSHI NAKAMOTO'S IDENTITY.

Even with the many of efforts to expose the true the identity of Satoshi Nakamoto . Many of the years , no one has been known as the inventor of the Bitcoin. Even there have been some claims / Satoshi of being Nakamoto . Here are two claims/ theories .

NiCK SZABO
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Nicholas Szabo is also called the Nick Szabo , he is also a computer engineer . He has an american nationality , without iformation regarding his real age , place of birth , merital status and descent . He has a lot of similarities like Satoshi Nakamoto's behaviour . Nick szabo was an excited in decentralized currency and once he published an article on the "Bit Gold" . It is the one of the ancestor of the Bitcoin .

As Satoshi was the first to make a decentralized digital currency (Bitcoin) to less the freedom and beleive on the third parties intercession in financial transactions .

DORIAN NAKAMOTO

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The creator of Dorian Nakamoto as Satoshi Nakamoto first started in the publication in the newsweek in the 2014 magazine point out the Dorian Nakamoto as the creator of Bitcoin . This announcement by Leah McGrath pious man ( as a reporter ) caused a stir in the crypto world and vast tech community , because it was the greatest effort and first time a traditional publication was prepared to recognize the creator of Bitcoin .

An interesting fact that further appreciated the thinking of many people , was an interview McGrath had with Dorian . When, Doreen Nakamoto said that he was no longer associated with the bitcoin and he left it all to other people. Dorian later denied the statement, saying it was a "misunderstanding". Despite the uproar, Doreen Nakamoto has continued to deny any participant with the cryptocurrency bitcoin.

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3.WHO IS WEI DAI?

Wei Dai was a computer engineer who got the higher education from the University of Washington in group of computer science . Later on he began to working in the microsoft . Then he discovered two U.S patents #5724279 and #6081598 which were allot to Microsoft. Dai also performed a very important role in the VMAC project .
This is a block cipher based message verification code with a universal hash. These projects show its biggest contribution to cryptocurrencies.

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Although B-Money is considered to be the first cryptocurrency ever created,But it has never been applied , but it is based on ideology which serve as a model for the creation of bitcoins and other cryptocurrencies .
"BMoney" was a plan for essential digital currency in a decentralized system that is highly private. And allows anonymity through self-enforcement agreements under third party intervention.

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WHAT IS THE CURRENT VALUE OF BITCOIN? CALCULATE THE USD VALUE OF ONE SATOSHI OF THE CURRENT VALUE

The current value of the Bitcoin.

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CoinmarketCap.com

Units of MeasurementsSymbolsValue in numericals
Mega BitcoinMBTC1,000,000
Kilo BitcoinkBTC1000
hecto bitcoinhBTC100
deca bitcoindaBTC10
bitcoinBTC1
deci bitcoindBTC0.1
centi bitcoincBTC0.01
milli bitcoinmBTC0.001
micro bitcoinuAT0.000001
satoshisAT0.00000001
milli SatoshimSAT0.00000000001

▪︎To calculate the value of USD Satoshi of the current value:

At the time of making this post 1 BTC is equal to $38,112.58 .
As we have seen the value in the above table :

1 Satoshi = 1/100000000 × 1 BTC
1 BTC = $38,112.58
1 Satoshi = 1/100000000 × 38,112.58
1 Satoshi = 0.0003811258
1 Satoshi = 0.000381( the result up to 3 significant figures )

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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


The current value of Ether (ETH) at the time of performing this task according to coinmarketCap .

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CoinmarketCap.com

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As the time of making this post , the current value of ether .
As we can see above the using value .

1 Gwei = 1/1000000000 × 1 Eth
1 Eth = $2,476 . 26
1 Gwei = 1/1000000000 × 2,476.26
1 Gwei = 0.00000258824
1 Gwei = 0.00000247 (to 3 s.f)

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TRANSFER 0.001 STEEM TO AN ACCOUNT. THEN SEND 0.0001 STEEM. SHOW WHAT HAPPENED AND STATE WHY.

I shall be transferring my 0.001 steem to the respected professor's account . First of all , we have to loging our steem wallet account . After logged in the wallet account , now the display will be like as

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We choose the transfer button for transfering our steems .

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After putting the all inputs , we should click on the OK.

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Now we can see the transferred steem in the history for confirmation .

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Transferred successful .

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Conclusion

We have learnt a lot of things from this interesting lecture .
Personally, I would like to point out that the idea of ​​not revealing the name of the founder of Bitcoin is unacceptable,Because this project has really made a positive difference in the financial markets around the world
And someone must be available to take credit and respond,
But then again, I'm sure there could be a good reason, who knows. All the same, we admire you (the founder of Bitcoin), whatever and wherever you are. I have learnt many of things from this lecture especially i taught about to find the value of 1 Satoshi . Except this i read about the founder of Bitcoin . Now i want to say thank you to dear professor @awesononso . Thanks a lot professor .

Thank You

@awesononso

Best Regards

@shahzadprincejee

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