Blockchain Technology Labs

Who is Satoshi Nakamoto?

Ever since 2009, the world has been witnessing a silent revolution happening across the world. A revolutionary technology appeared that is slowly now taking over the entire internet, that technology being “blockchain”. It first appeared in 2009 when Satoshi invented the decentralized P2P cash system called Bitcoin that has since been slowly taking over everything. But no one actually knows except for a few people who the real Satoshi Nakamoto is. So, who is he actually?

About Satoshi

Bitcoin, the decentralized P2P electronic cash system and the first real implementation of a blockchain

Satoshi Nakamoto is the supposed man behind the invention of Bitcoin. He is the author of its whitepaper that explains in more detail how Bitcoin actually works and he implemented the first ever real blockchain known to the world. He also developed the original application for it called Bitcoin Core which is the original Bitcoin wallet. Satoshi was the first ever man to solve a big problem in Computer Science called the “double-spending problem” which is going to be explained now

What is the double spending problem?

For many years, there has been a problem regarding how money should work on the internet whenever we try to send or receive it. For example, whenever we use the internet to share a certain file, we aren’t exactly giving away the original file, we are making an exact copy of it and send it to the person we want to give it to. It’s great because we do not have to lose the things important to us as well, such as images, videos, music etc. . You get to keep it for yourself as well and you can still enjoy those things. Unfortunately though, this thing is really bad when it comes to money. Whenever we send EURO or USD to someone we want, we are sending a copy of that money and it’s even possible for us to keep that money and do this infinitely. This is a really critical thing to consider and it has been dubbed the “double-spending” problem.

To actually solve this problem when the internet appeared, big intermediaries came that made sure that whenever we try to send money to a person, that money would be deduced from our account as well. But this was essentially a band-aid solution to this problem and it still wasn’t actually fixed, until Satoshi Nakamoto released Bitcoin in 2009 with the first blockchain database that ensured a system that would send or receive money securely without the need of a big intermediary, essentially eliminating “trust” from the system. Ever since then, many companies implemented blockchain in their system not only for money, but for other things of value such as music, video games, pictures etc. . It ensures that you actually get the original thing and not just a copy of it.

Characteristics and assumptions on who Satoshi Nakamoto is

It is said that Satoshi Nakamoto lives in Japan and was born on 5 April 1975 according to his “P2P Foundation” profile, but has been stated that it might not be the case because he spoke English at a native level and has also made use of British English when writing his whitepaper on Bitcoin. A list of possible identities has been made and it includes 3 possible candidates that suggests that they are actually Satoshi.

Adam Back

  • Strong background in cryptography and being cypherpunk
  • Satoshi Nakamoto wrote the whitepaper in British English. Adam Back is british as well.
  • Invented ‘hashcash’, the proof-of-work algorithm that is also used in Bitcoin
  • Bitcoin was written in C++ and Satoshi’s programming language was C++. Adam Back writes in C++ as well.

Hal
Finney

  • The first person to use the Bitcoin software other than Nakamoto himself
  • The first ever Bitcoin recepient
  • Has a strong past regarding cryptography, security and privacy
  • Created the first reusable proof-of-work (PoW) system before Bitcoin

Nick
Szabo

  • Digital currency enthusiast
  • Designed a mechanism for a decentralized digital currency called “bit gold”, considered the precursor of Bitcoin
  • Original developer of smart contracts technology used in cryptocurrencies such as Ethereum

Dorian Nakamoto

  • His full name matches Satoshi Nakamoto’s name (“Dorian Prentice Satoshi Nakamoto”)
  • Was the neighbour of Hal Finney
  • Has a past related to engineering
  • Political views that might be the cause of Bitcoin’s creation

Conclusion

Satoshi Nakamoto is one of the biggest mysteries in the history of technology and no one really knows for sure who he really is or where is he exactly. No one knows if Satoshi will ever reveal himself as he chooses for his identity to remain a secret to everyone. Despite that, he has created a revolution in technology and in the way we exchange money and things of value and has made a big impact in technology and the world as a whole.

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