Satoshi Nakamoto is one of the most prolific names in cryptocurrency – but who is it?
I imagine you’ve heard of Bitcoin before. If you haven’t, here is a quick refresher:
A purely peer-to-peer version of electronic cash would allow onlineBitcoin Whitepaper
payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending.
The author of the Bitcoin Whitepaper, and the creator of Bitcoin, is Satoshi Nakamoto. That’s right – Satoshi is the individual that theorized and created the legendary Bitcoin. The one that started the cryptocurrency movement that is still raging on, more than ten years later.
The first of many things
As a digital currency pioneer, Satoshi was the first to achieve a number of impressive feats:
- Devised the first blockchain database
- Was the first Bitcoin miner
- The first to solve the double-spending problem for digital currency with a peer to peer decentralized network
…and much more.
Interestingly, there are wallet addresses that are thought to be owned by Satoshi, linked by the fact that Satoshi was the first Bitcoin miner. These wallets contain around 1 million Bitcoins – an incredible amount of money. This money hasn’t moved in a long time.
Since the Bitcoins have remained idle many theorize that Satoshi is dead. If it did move, the market would shift, prices would likely be affected and opinions would change.
What do we know about Satoshi?
Not a lot. In fact, we know almost nothing about Satoshi apart from the fact that Satoshi was the creator of Bitcoin and that Satoshi originally claimed to be a Japanese man born in 1975 living in Japan in an online forum.
Satoshi Nakamoto is presumed to be a pseudonym. In other words, it’s an anonymous name that someone used to publish their work. No one knows who is behind the Satoshi pseudonym. There are theories, there are claimants, but none have been proven.
It’s possible that Satoshi isn’t just one person. The research is published under one name, but the name could represent multiple people that worked together to create Bitcoin.
Satoshi Nakamoto is a mysterious figure. There are claims of people that are Satoshi, or people that know who Satoshi really is. In reality, nothing is concrete, nothing has been proven.
All we know is what Satoshi has given to us as a community and that is Bitcoin and the power of blockchain technology.