Steemit Crypto Academy [Beginners’ Level] | Season 3 Week 6 | by @allan.fakeer
This very interesting lecture in which we learn about Indentity of Satoshi Nakamoto. And measurement units of staoshi and Gwei. I learn many things about Satoshi identity and measurement units. I hope it will be helpful for me in future.
Who is Satoshi Nakamoto?
Satoshi Nakamoto is an anonymous person whose name is associated with the production of bitcoin, meaning that Satoshi Nakamoto founded the first cryptocurrency, the bitcoin. Satoshi Nakamoto is the name of the man who created the cryptocurrency. In 2008, when the world was in the throes of a severe economic crisis, he thought of creating a currency that no one could control. And it allows us to move our Money from one place to another in a way that deviates from traditional methods. In addition, we can trade and buy and sell with this currency. With that in mind, he created the cryptocurrency in 2009. The purpose and reason for making this currency was to eliminate the excess of taxes in the traditional way. That is, banks used to collect taxes in transferring money from one place to another. We can now transfer members from one place to another using this currency. No further verified information is available about Satoshi Nakamoto.
Claims / Theory of Satoshi Nakamoto
Although no one knows Satoshi Nakamoto true identity, two or three people are associated with N and are said to be Satoshi Nakamoto. This person has largely concealed his identity. This person has done a great job. Now we will mention some theories according to which some people may be Satoshi Nakamoto.
Dorian Nakamoto
Dorian Nakamoto name is included in a list of people who are thought to be the exact same person. That's because there are some similarities between the two. According to Newsweek, both the Satoshi Nakamoto and Dorian Nakamoto are liberal and belong to Japan. This claim has been made on the basis of these two similarities. Dorian Nakamoto graduated in physics from the University of California and worked on some top secret national projects.
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Newsweek's Arthur writes that Dorian Nakamoto once said, "I'm no longer involved in any bitcoin activity” Although this statement was later denied by Dorian Nakamoto, and said that, you have misunderstood the question. But I have nothing to do with it, so this is how we saw how Dorian Nakamoto name was associated with it.
Nick Szabo
Nick Szabo is a computer engineer and scholar. His name is also included in the list of the few people who are considered to be Satoshi Nakamoto. He published a paper in 1996 in which he presented the idea of smart contract. He also introduced the theory of digital currency, which he called Bit Gold. He called Bit Gold a protocol in which online bits are made by a third party. They are very expensive and irreparable.
His theory is similar to that of Bitcoin. The way of working of Bit Gold is quite similar with the working of Bitcoin network. In addition, the author says that the style of writing of the Nick Szabo is very similar to the style of writing the Satoshi Nakamoto.
Who is Wei Dai?
I am a name that has done a lot of important work in the world of cryptocurrency. He is an engineer and computer scientist who has also done a lot of work in cryptography. He is from China. He graduated in computer science from the University of Washington. He is a very good computer scientist. There are many things in the world of cryptocurrency and cryptography that we have got because of him. He created a library of cryptocurrencies called crypto ++ and introduced the concept of b-money in 1998.
What is the current value of Bitcoin on the day you are performing this task?
Now I calculate the values of satoshi in dollar. The Dollar of Bitcoin at the time of Homework is $38,131.21. This Data is get from Coinmarketcap.
Calculate the USD value of one satoshi of the current value.
Formula
- 1 satoshi= 1/100000000 x 1 BTC
- 1 BTC= $38,131.21
- ∴ 1 satoshi= 1/100000000 x 38,131.21
- 1 satoshi= $0.0003813121
- 1 satoshi= $0.000381 (to 3 s.f)
What is the current value of Ether on the day you are performing this task?
Calculate the USD value of one Gwei of the current value.
Formula
- 1 Gwei= 1/1000000000 x 1 ETH
- 1 ETH =$2618.10
- ∴ 1 Gwei= 1/1000000000 x 2618.10
- 1 Gwei= $0.0000026181
- 1 Gwei= $0.0000262 (to 3 s.f)
Transfer 0.001 Steem to an account. Then send 0.0001 steem. Show what happens and state why.
If I enter the 0.001 steem value for the purpose of transfer, it does not show any error because the value is written in it is very clear and according the requirement.
After the value and user name of receiving person. I click NEXT button. Next message appear that is for confirmation. As shown in figure.
Here you see the steem is successfully transfer to another account.
If I enter 0.0001 Steem for transferring purpose, it show an error as shown in figure.
Why It shows Error
It shown error because, Steem blockchain does not supports more than 3 decimal spaces. If we enter more than 3 decimal spaces if shows error. This is why steem blockchain supports only 3 decimal spaces. You can see in the wallet section our Steem, steem power and SBD are shown in 3 decimal spaces.
Conclusion
In this post we learn about Indentity of Satoshi Nakamoto. We also discus the claim theory about Satoshi Nakamoto and point out the persons who are attached with the name of Satoshi Nakamoto. We also discuss the measurement unit of satoshi and Gaei. We sort outthe value of 1 Satoshi and Gaei for the formula. We also learn that steem blockchain supports 3 decimal spaces. Thank you
Written by
@allan.fakeer
Hello @allan.fakeer,
Thank you for taking interest in this class. Your grades are as follows:
Feedback and Suggestions
Some statements needed to be clearer.
Always avoid repetitions.
You should have done more research especially on the question of Wei Dai.
Thanks again as we anticipate your participation in the next class.