MonthMarch 2020

Who Is The Creator Of Bitcoin?

In May 2010, Laszlo Hanyecz bought two pizzas worth $30 with Bitcoin. What started as a fun test ended up being one of the biggest crypto-trends of 2020.

Nobody knew about Bitcoin a decade ago. Today it’s everywhere, and very few haven’t heard of it. The creators inspired in a technology they researched since the nineties: blockchain.

It’s been a long time since 2011, and we still don’t understand how Bitcoin works. We have an idea of what it does but have no idea of what its potential is. How has it become what it is today?

Bitcoin bases on Blockchain, like many altcoins. Yet, Bitcoin came first, and the others haven’t expanded nearly as much as BTC. Something makes it different from the pack.

If you research Ethereum, Litecoin, or Ripple, you’ll know everything about their origins and their founders. Bitcoin, however, has a mysterious creator.

Who Is The Creator Of Bitcoin?

If we knew about the creator and contact him, we would know much more about Bitcoin today. All we know is a name, Satoshi Nakamoto, registered on the Bitcoin.com domain.

The name stands for a person that may or may not exist. Although there are potential characters, nobody has enough evidence to be Nakamoto. The name is likely a pseudonym of the real person. Perhaps a group of talented coders.

It seems the creator of Bitcoin has no interest in revealing his identity. Who is Satoshi Nakamoto?

That doesn’t mean others haven’t tried. If you read Craig Wright‘s case, there’s evidence of people you might have involved in the project.

What Would The Creator Look Like?

What researchers found wasn’t enough to prove the identity. Hopefully, they will find information if they asked the closest people to that circle.

We know Laszlo Hanyecz as one of the first people who used Bitcoin. Researching further, they got to a bunch of potential profiles, being Craig among them.

Imagine someone claimed to be the creator. Even if they can prove it, it’s hard for investigators to verify it. First, it should match the description we currently have:

Skillset

Whether it’s a tech team or a single genius, it takes innovation to create Bitcoin. You won’t invent it in your garage. At least, the creator would be an expert in computer science and peer-to-peer online networks.

Identity

We don’t deny that a single person could have created Bitcoin. It’s simply not probably. If the founder created this crypto-system to make money, you’d have heard about it.

Wouldn’t the creator be the first person to profit from Bitcoin? Some Bitcoin millionaires are Barry Silvert, Michael Novogratz, and Dan Morehead.

John McAffee is another Bitcoin enthusiast who owns a good chunk. He claims to know one thing or two about the creator, but there’s no evidence because he never spoke.

Due to the many people involved, Satoshi could likely be the Bitcoin founder, not who created the whole system. Many tech geniuses may have come after him to complete the project. Probably the ones who promoted Bitcoin in its early stage.

The Bottom Line

The Bitcoin creator will continue to be anonymous. The identity may not matter after all. Because what would you get representing a decentralized, anonymous trading system. It wouldn’t make sense.

He may still surprise us and reveal himself someday in the future. If he’s still involved, the project may still be running. What we’ve seen until today may only be the beginning of something bigger.

Everything You Need to Know About Cardano

What is Cardano?

Cardano is a platform that wants to bring together all of the cryptocurrencies in hopes of all of them working together in the future. It has a very participative budget, and the protocols are being updated based on the community’s acceptance. Their intention is to create a platform based on block-chain, to vote on Hard forks and Soft Forks. With it they bring a very malleable technology that is going to allow the exchange of protocols and technologies with cryptographic algorithms.

The Daedalus wallet also plans to embrace that cryptocurrencies, thereby enabling trades on the same network between them all. There will be some kind of shop inside the wallet itself, where you can install specific applications that should help manage finances and fund certain cryptocurrencies.

It has its own language called Plutus, but it also shares the language of Solidity used in Ethereum. Another thing we should refer to is that Ethereum plans to shift the agreement to Proof of Stake, Cardano already begins his project utilizing Proof of Stake.

Cardano also provides several innovations and possibilities that will help to ensure fairness and protection for both sides of transactions that need more formality and confidentiality, such as between banks or more traditional entities.

How does it works?

Cardano essencialy tries to resolve three main problems: Interoperability, sustainability and scalability.

Interoperability is when different types of cryptocurrencies can communicate between themselves, but since each type has their own individual protocols this process is impossible to manage.

The sustainability refers to the fact that the protocols are somewhat immutable making it not easy to change the protocols.

And finally the scalability refers to the fact that the network grows slower as it becomes bigger, which should work the entire opposite way.

Daedalus

Daedalus is the official ADA coin wallet, it is created on a fork from Electrum, web-based programming. As Daedalus has a universal purpose and is Open Source, it ends up detaching a little from Cardano itself and will become a very important independent tool in the future of crypts, as it solves the problem of interoperability.

Tokens

Tokens are like other currencies created within the platform that Cardano offers. The purpose of the Token is to virtualize an asset or “thing” that is needed in the real world to perform the action that is now being done on the blockchain. It is as if the Token monetizes any action to facilitate the operation in the virtual application.

Smart Contracts

The creation of self-sustainable applications that will never be disabled. This happens due to the possibility of programming and building applications, with smart contracts, within the blockchain system, just like what happens on the Ethereum platform.

Positive points of the Cardano Project:

  • 3rd Generation: It has an open code and is already considered the third generation of cryptocurrencies.
  • Decentralized: Cardano wants to act as a digital currency just like Bitcoin.
  • Lots of support from third parties like this Cardano wallet.
  • Financial Freedom: Decentralization is the technology revolution, the digital age is totally revolutionary.
  • Fast transfers to anywhere in the world: Committed to speed, developers are looking at ways to make transactions faster without compromising the network.
  • Improvement: The project investigated the flaws of other cryptocurrencies and elaborated deeper functionalities on its platform.

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