If the story is true, Craig Steven Wright would be the famous Satoshi Nakamoto, the creator of Bitcoin, the virtual currency is seen by many as a digital alternative to centralized currencies that today govern the world.
on Monday Wright was presented as the true Sakamoto to the BBC, the Economist and GQ and gave cryptographic evidence linking the currency from shortly after birth. (Read “Supposedly inventor of Bitcoin reveals his identity”)
The mystery around Nakamoto is an issue that round since the creation of Bitcoin, which was described in a public made academic essay in 2008 and started to be exploited in 2009. (Read ” ‘Bitcoin is more reliable because you can not manipulate’”)
Nakamoto vanished in 2011 by claiming he would focus on other things. Since then, his public activity has been practically nil. This concentrated attention to the mysterious person who developed the currency to the point that media like The New Yorker, Fast Company, Newsweek, Wired and Gizmodo have devoted extensive research to find out who is behind the name Satoshi Nakamoto.
the interest clarify beyond a mystery, it is linked in some way to the future of the crypto currency in at least two points. But before explaining the possible influence of Nakamoto on Bitcoin it is necessary to understand briefly how the currency works.
All part of a procedure known as mining, in which a user (the computer of a user, to be exact) solves a complex mathematical problem. Whenever one of these is resolved bitcoins block is processed. In turn, the miner, to call a way, he is rewarded with new bitcoins.
Shortly after its release, the protocol Bitcoin included several rules, among these the limitation that each block can not be larger than 1MB. This condition was included to protect the system attacks but also imposes conditions as mined speed of each block. The current debate, which has been debated for several years, revolves around the possibility of extending this limit.
One of the arguments in favor of increasing the limit is that this could be handled more transactions per second. Opponents of the measure say, among other things, that the spread of more blocks could generate centralized controls the currency and this is one of the principles of the whole idea: the lack of centralization, common in physical currencies of countries.
And this is one of the points where the figure of Sakamoto can enter to become relevant, as was the creator of Bitcoin who, along with other developers, imposed size limit blocks crypto currency.
in addition, it is estimated that Sakamoto has the cryptographic keys (something like access permissions) for a fund of one million bitcoins, now worth US $ 450 million. Distribution or sale of this massive reservoir could alter the same price of the currency. An estimated 15.5 million outstanding bitcoins.
Who is the person behind Sakamoto?
Craig Steven Wright is an Australian 45, an expert in digital security, which until a couple of items of December last year in Wired and Gizmodo was not on anyone’s list as a possible creator of Bitcoin.
Both publications submitted as e-evidence and blog posts on the Wright spoke of the creation of the currency before its introduction between 2008 and 2009. in addition, there seems to be a direct link between the Australian and the bottom of bitcoins already mentioned, which is not only one of the largest, but belongs to one of the oldest blocks in the system, one of the first to be mined
But the evidence is not entirely convincing, so Wired magazine came to this conclusion:. or, indeed, it is Sakamoto or someone who has concocted a large network to impersonate him. Both are not without merit.
After the publication of the articles, the Australian tax authorities raided the home of Wright in Sydney for alleged tax evasion. The course Sakamoto acknowledged Monday that it is negotiating with the government an agreement to settle its debt with the IRS.
Despite revealed as the true Satoshi Nakamoto, many still question whether Wight is in effect creator of Bitcoin. The Australian gave cryptographic evidence, however, said it would expand in the future.
The figure Sakamoto could alter the path of Bitcoin. Or maybe simply be done by solving a riddle. Ultimately, if everything is true, Wright already sidelined once its creation. Nothing prevents you from doing it again.
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