Crypto Academy Season 3 Week 6 | Homework Post for Professor @awesononso | Satoshi Nakamoto, Wei Dai and Cryptocurrency Units of Measurement.//By:@zeeshankram

Hello, Steemians. I hope you are all of you I hope you will be fine Alhamdulilah I am also fine with the grace of Allah Almighty. I am very thankful to the honorable professor @awesononso on his wonderful lessons on Satoshi Nakamoto, Wei Dai, and Cryptocurrency Units of Measurement. So lets discuss.

Question :

Who is Satoshi Nakamoto?

Ans:

Here i am going to tell you about Satoshi Nakamoto is the nickname of an unknown person or organization that is thought to have created bitcoin. Here is the little more about Satoshi Nakamoto he is also who published its whitepaper. And Satoshi Nakamotois is a person who created the first ever Genesis block. Satoshi Nakamoto is a person who that published the Bitcoin white paper in 2008 and invented Bitcoin in 2009. Satoshi Nakamoto's true identity is still unknown, as no one can say for sure whether Satoshi Nakamoto is a person or a group of people and whose true gender is unknown. It is said that about Satoshi Nakamoto that Satoshi Nakamoto is a male citizen of Japanese, but his Japanese identity as a Japanese was not accepted by the Japanese, given the fact that he was fluent in English and a white bitcoin article. Unmarked. Japanese on it.

However Satoshi Nakamoto cooperate with other engineers in the start of bitcoin, the character had no personal information and limited her communication at the technical level. Bitcoin is open source and does not belong to any government. Satoshi Bitcoin has also encouraged countless cryptocurrencies and is therefore considered the mother of all cryptocurrencies. Satoshi was active in field of bitcoin until December 2010, when she lost contact with the world and no longer has anything to do with it.

Question:

Write on two claims/theories of Satoshi Nakamoto’s identity?

Ans:

For many years no one was identified as the inventor of the bitcoin, There are some theories of Satoshi Nakamoto. Given Satoshi Nakamoto's ridiculous attempts to uncover her true identity, there are only a handful of identities suggested by the creator of Bitcoin. Here are two theories as follow:

Nicholas Szabo:

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In search of Nakamoto's identity, a man's name has appeared repeatedly and his name was Nicholas Szabo. Nicholas Szabo is also known as Nick Szabo. He coined the concept of "smart contracts", which aims to deeply integrate the practices and practices of contract law into the design of e-commerce regulations in general. Nowadays, smart contracts have become an important part of cryptocurrencies. Nick is considered a failure for seemingly valid reasons. Nick is very interested in decentralized currencies and once published an article about Bitcoin Gold, one of the pioneers of Bitcoin.

First, Nick Zabo created the "Bit Gold", an important form of electronic money. During the development of Bit Gold, Zabu contacted the same group of people that Nakamoto came to years later for advice and feedback on the project. According to Gizmodo, Szabo backed up a post on one of his blogs, asking him for advice on issuing gold bitcoins so he could check if the bitcoins were white. Done after the paper. Issued. Nick Zabo worked for DigiCash, an organization that plans to bring the idea of ​​its cryptocurrencies to digital payments. It was another strong fact that convinced Frisbee that Nick Zabo is Satoshi Nakamoto. These points present Szabo as the creator of the bitcoin, although he has vehemently denied all of these claims.

Dorian Nakamoto:

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Dorian satoshi's career as an engineer working on hierarchical projects and his private life gave him the idea that he created bitcoin until Doreen Nakamoto issued a statement saying, "He is not a bitcoin. Made, not invented, or worked. From an article published in March 2014, the reporter was able to point out similarities between Doreen Nakamoto and Satoshi Nakamoto, which is why they are the same. When a Newsweek reporter told Leah McGrath Goodman a story that focused on unveiling the creator of Bitcoin. An interesting fact that most welcomed the thinking of many people was McGrath's interview with Dorian When, Dorian Nakamoto said he no longer had anything to do with Bitcoin, he left everything to others. Dorian later denied the allegations, saying it was a "misunderstanding." Despite the rumors, Donian Nakamoto continues to deny any involvement in bitcoin.

Question:

Who is Wei Dai?

Ans:

Wei Dai is a chinese computer engineer. Wei Dai is also related to being Satoshi Nakamoto, because he is a smart cryptographer and has a private life, because there is little information about his life and he is mentioned at the end of the white bitcoin article. I will be referred. He holds a bachelor's degree in computer science and a master's degree in mathematics from the University of Washington. He has fallen in love with cryptocurrencies and cryptocurrencies. His creative list includes VMAC, Crypto ++ and b-money, an electronic money system that he first introduced in the late 1990s and intended to operate as an anonymous system. . When implemented, B-money typically works like cryptocurrencies. His name"Wei" was adopted as the smallest subunit of Ether. Wei Dai a member of Microsoft, a Washington-based cryptographic research group that studied, designed, and implemented encrypted systems for specific applications. Wei Dai stated that The first method was the efficient use of the Proof of Consensus (PoW) algorithm. B. Money is obtained from extraction using hash cash. This theory was not applicable due to lack of coordination.
He also said that Confirmation of the transaction is based on the shares placed in the transaction process, which acts as a balance and therefore as a guarantee, and in the case of fraudulent acts in the China Blockchain protocol. B-Money, however, is considered to be the first cryptocurrency ever created. B-Money was a proposal for a virtual digital currency in a decentralized system that is highly private and allows anonymity to be achieved through self-executing agreements under third-party intervention. Wei Dai has strongly rejected all attempts by individuals and organizations to portray the Wei dai as S. Nakamoto.

Question :

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)?

Ans:

At this time Per the current market value of 1 Bitcoin, according to CoinMarketCap, is $38,5117.2 .

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Current price of bitcoin on the day I performed this task:
1 Satoshi = 1/100000000 × 1 BTC
1 BTC = $38,5117.2
1 Satoshi = 1/100000000 × 38,5117.2
1 satoshi = 0.003851172
1 Satoshi = 0.00385(to 3 s.f)

Question :

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)?

Ans:

The current value of Ether at the time of performing this task is $2,487.75 according to Coinmarketcap.

Unites of Ether:

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I will performe this task like this:
1 Gwei = 1/1000000000 × 1 Eth
1 Ether = $2,487.75
1 Gwei = 1/1000000000 × 2,487.75
1 Gwei = 0.00000248775
1 Gwei = $ 0.00000248775 (result up to three square feet).

Question:

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

Ans:

Now in this question i will transfer the steem which task is given to me . First of all open your wallet for transaction.

Atfter clicking on tranfer Next, I tried sending 0.0001 Steem to a Steemit friend @shahzadprincejee on his memo id However, the transaction was unsuccessful because the least value of Steem permitted to be transferred is 0.001

I then tried sending 0.001 Steem to his memo id I typed the deepcryto8 the amount of Steem to be sent, and the Memo for the transaction.

The next button became available, and I clicked on it.

Now chek the history is transaction is done.

Conclusion:

In this lesson i have learned about about some cryptocurrency, creation,and it's measurements. I also read about Satoshi Nakamoto, The first cryptocurrency is known as the founder of the bitcoin, which paved the way for the creation of other cryptocurrencies.I have learned so much how to calculate the units of Bitcoin to the units of Ether. I am very thankful to Professor:@awesononso for this wonderful lecture.