who created bitcoin

What Does Satoshi Nakamota Have To Do With Bitcoin?

You’ve probably been hearing a lot about bitcoin and cryptocurrency over the last couple of years. The inventor of the bitcoin protocol is Satoshi Nakamoto, who released his first version of the bitcoin software in 2009. Nakamoto has done a good job of keeping his life private post bitcoin as the last time anyone has heard from him was back in 2011.

There seemed to be a huge mystery behind Mr. Nakamoto, big publications such as. The New Yorker believed that Satoshi Nakamoto was in fact Michael Clear, a student at Dublin’s Trinity College who studied cryptography. FastCompany journalist Adam Penenberg made an argument that Nakamoto could have been three people: Neal King, Vladimir Oksman and Charles Bry.

They came to this conclusion by typing unique phrases from Nakamoto’s bitcoin paper into Google, to see if they had been used elsewhere. One of them specifically, “computationally impractical to reverse,” surfaced in a patent application made by these three for updating and distributing encryption keys. The bitcoin.org domain name originally used by Satoshi to publish the paper had been registered three days after the patent application was filed.

Here’s what we do know about from individuals that were involved with him at the early stages of bitcoin development’s process, says he put a lot of thought into the bitcoin system and his coding was unconventional. An analysis from bitcoin authority and cryptography, Sergio Lerner, indicates that Satoshi mined a lot of the early blocks in the bitcoin network, and he has accumulated over 4 million unspent bitcoins. That bundle would be worth $1bn at November 2013’s exchange rate priced at $1,000.

Core developer Jeff Garzik explains it briefly. “Satoshi published an open-source system for the purpose that you didn’t have to know who he was, and trust that he was, or care about his knowledge,” he reported. Open-source code makes it impossible to hide secrets. “The source code spoke for itself.”

Furthermore, it was smart to use a pseudonym, he argues, because it made peoplefocus on the technology itself rather than on the name behind it. As of right now, bitcoin is now much bigger than Satoshi Nakamoto.


Please enter your comment!
Please enter your name here