This story dates back to 2008 when the world went through a financial crisis(07/09/2008), LHC was inaugurated(11/09/2008) and Mumbai(Bombay) a city in my country, was attacked(27/11/2008).
He was a computer programmer. He was a cryptographer. He knew about economics. He was a genius! He was Satoshi.
He waited patiently working on codes line-by-line, perfecting his new software, careful not to make a mistake as it could cause his dreams to shatter.
He analyzed the past and learnt from those who made mistakes.
His idea was simple, to make a digital currency free of a trusted authority (much like democracy which gives equal voting power to every citizen) but implementation was difficult.
He used different tools from different developers and created his own digital currency: "The Bitcoin".
- He used secp256k1 to generate private and public key pairs.
- He used SHA-256, RIPEMD-160 and Base 58 encoding to generate the address from a given public key.
- He attempted to decentralize the network by mining(again used SHA-256 as POW algorithm) and submitting the confirmed blocks to the nodes to be added to the Block-chain.
It was practically impervious to fraud and theft.
Delighted after having tested the network, he proceeded to the mailing list and released the whitepaper.
After long discussion and having answered all of developers questions, he launched the network.
He also collaboratively worked towards improving the network until mid-2010, when he transferred several related domains and development of the Bitcoin code to one of the developers and disappeared out of the blue, keeping his identity obscure.
Years passed and this electronic cash slowly started getting attention from all kinds of people like traders, developers, merchants, scammers, drug dealers, smugglers and even the government. It was then that his true identity became a subject of controversy. Media and famous bloggers started looking for trails and lot of names were targeted but everyone denied the claim when asked.
Over the course of time the currency was abused by scammers, exchanges were hacked by greedy people and government tried to ban it's use but nothing could stop its growth. It wasn't long before it's tested and proven decentralized Block-chain inspired lot of other developers to start their own digital currency based on the decentralized Block-chain. He gave the people their freedom in the form of decentralized Block-chain.
Steemit is based on the same decentralized block-chain which Satoshi had first proposed in his whitepaper.
Speacial thanks to @dan @dantheman and @ned for taking the technology to a whole new level and creating steemit.
Meaning behind the name:
“Satoshi” means "clear thinking, quick witted; wise". “Naka” can mean “medium, inside, or relationship”. “Moto” can mean “origin”, or “foundation”.
Unexpected ways in which Bitcoin dodged cryptographic Bullets
Image source: pixabay
The man, the myth, the legend. I wish he didn't have to be anonymous. If he would at least publish a book about his ideas that would be magnificent.
Glad that you found time to read my article!
Thank you very much! :)
I didn't know about Satoshi before this to be honest. When I first heard about him I thought people meant Satoshi Kon. Thanks for the write up :)
hmm..
Sorry dude, I'm a noob at everything that's not classic lit. I'm always into learning more tho!
https://iamrohitkgupta.wordpress.com/about/
for manual curators just in case someone Google searchedI think it was probably more than one person and one of them was the late Hal Finney.
probably. He was the first person to receive bitcoins from nakamoto..