Steemit Crypto Academy [Beginners’ Level] | Season 3 Week 6 Homework post for Professor @awesononso | Satoshi Nakamoto, Wei Dai and Cryptocurrency Units of Measurement by @small-ville

Satoshi Nakamoto is known as the original inventor of Bitcoin because he was the writer of the bitcoin white paper in 2008 but no one truly knows his real identity. The name is of Japanese descent, but no Japanese has been able to be precisely linked to the name except for Dorian Nakamoto. Some people see the name as a group while others see it as a persona. Satoshi is believed to be in possession of about 1million pieces of bitcoin, which is about 5% of the total supply which is at 21 million. which could be about 50 billion dollars in worth, He created the bitcoin after the crashing of the economy in 2008, to solve the problem of the banking system, and also eliminated the centralised authority given to these cooperate entities, and has since then disappeared.

Satoshi Nakamoto adopted the PoW(proof of work) for the bitcoin consensus mechanism, but this is few among the knowledge on how the digital aspects of bitcoin came about. The reason why Satoshi hid his identity cannot be identified is not known, but come to think of it, this should have deterred people from investing in Bitcoin, but instead, it has even fuelled more conspiracy theories and interest in bitcoin.
There has been much speculation as to whose identity can be placed on the name Satoshi Nakamoto, but the identity of Satoshi Nakamoto remains an enigmatic persona to the world of cryptocurrency.

Because there has not been a facial attachment to the name of Satoshi Nakamoto, people have begun to place various identities to the name Satoshi Nakamoto but they all are believed to be inconspicuous suggestions. But I am going to address two names that have been heavily linked to the Satoshi Nakamoto name.

Dorian Nakamoto as the name suggests is the closest thing to place an identity to the name of Satoshi Nakamoto, is a Japanese American, who lives in California. He is a physicist engineer, who was among the early cryptographer.
During an interview run by the Newsweek journalist Leah McGrath Goodman, Dorian Nakamoto stated “he was no longer involved in that” and that “ he cannot discuss it”, although he later denied that he was referencing the question asked to him about bitcoin, and was rather talking about a classified military contract which was meant to be top secret.

Hal Finney is said to be among the early pioneers in the cryptographic world, he also was said to have been the first person to receive a Bitcoin transaction and to use the technology behind the creation of bitcoin coins other than Nakamoto. speculations got heightened when it was found out that he lived few blocks away from Dorian Nakamoto, suggestions also came to light to reveal that he was not actually the creator of bitcoin but just a voice box for Satoshi Nakamoto. He later died in 2014.

Wei Dai is a Chinese computer engineer, who is known for his invention of the crypto++, The VMAC and the B-money. He is also named after the smallest unit of Ethereum which is called the Wei. He is a graduate of the University of Washington in computer engineering. Wei Dai is among the early cryptographers and he played a significant role in its popularization. There has been so much speculation on who Wei Dai truly is Because of his links to Satoshi Nakamoto through E-mails. Some even believe that he may even be Nakamoto himself and that the name Bitcoin might have been coined from the B-money invention because of its was referenced in the white paper of bitcoin published Satoshi in 2008. Wei Dai has personally debunked all these speculations and maintained a private and silent presence since.

Bitcoin is the highest Crypto by rating and also the highest by market cap, it is a cryptocurrency that can be traded and used as a medium of exchange. Like other Fiat currencies, the Bitcoin is also broken down into units with its smallest being the satoshi. Below is a tabled view of the price value of each Bitcoin unit.

The current value of Bitcoin is at 39,043.93 per Dollar, therefore to get get the value of one satoshi;
which is 1 SAT = 0.00000001 ( To get the current price of SAT in relation to the current price of Bitcoin is the multiply the value of 1 SAT to the current value of Bitcoin).
1 SAT-0.00000001*39,043.93 = 0.0003904393
Therefore; the value of 1 satoshi in respect to the current market price is $0.000390.

Every coin aside the Bitcoin is called the altcoin, which makes the Ethereum fall in that bracket, regardless of its value as the second most valuable coin by market cap and second position in the ranking. The current value of 1 Ethereum per dollar is $2,683.35.

Ethereum is broken down into denominations just like Bitcoin and other Fiat currencies. The smallest unit of Ethereum is called the Wei, gotten from the name of the crypto++ and B-money inventor Wei Dai.
Below is a table view of the units of Ethereum:

The Wei is also called a Gwei with the inclusion of the network fee;
Therefore the value of 1 Gwei = 0.000000001 Ethereum
to calculate the current value of Gwei is as follows;
1 Gwei = 0.000000001*2,683.35 = 0.0000268335
Therefore the value of Gwei in respect to the current market price of Ethereum is $0,0000268.

I tried to transfer 0.001 Steem to my friend @alphafx. after putting in the digits I was able to click the Next icon which navigated me to the next task box to confirm the operation.

The reason why the operation does not respond to the input of the 0.0001 digits is that the Steem token unlike other top altcoins does not have unit measurements but it has a limited denomination of input measurement which is at 0.001 Steem.