On November 1, 2008, a research paper on an ambiguous crypto listserv was published by a man named Satoshi Nakamoto. It explains the design of a new digital currency called Bitcoin.
None of the veterans on the list had ever heard of Satoshi Nakamoto. There was little information that was vague and contradictory. After searching for the name used in the research paper, an online profile will tell you that he lived in Japan. But his email address was from a free service in Germany.
If one tries to search for his name on Google, no useful information is visible. From this, the public can infer that the name “Satoshi Nakamoto” is simply his/her stage name.
Aside from the identity of bitcoin’s maker, the other intriguing topic would be the cryptocurrency itself. Which was able to solve a problem that has been baffling cryptographers for more than ten years. The concept of digital money that is free from errors from banks and governments is convenient and undetectable. It has been a controversial topic since the Internet was born. Cypherpunks was a movement of libertarian cryptographers in the 1990s. It commits to their project but struggles to keep and create digital cash.
Nakamoto publicly distributed the ledger, which he called the “blockchain,” in order to move away from third-party networks or companies. Users become “miners,” who will form a network that will collectively maintain the blocks while generating new currencies. Miners willingly devote their computers’ CPU power in order to run a special kind of software.
All transactions are broadcast on the network. So that miners will be competing against each other in solving puzzles that are cryptographic and contain data from numerous transactions.
Who is Satoshi
The main objective of Bitcoin was to be able to supply money. This can be without the need for the government or the bank to manage the economy and its resources. Because Nakamoto saw them as untrustworthy. The public ledgers released for Bitcoin protect its users from scams and also assure the stable supply of bitcoins at an expectable rate, free from central bankers and the Weimar Republic-style economic stagnation.
When users were free from their mining duties, there were those who tried to figure out the puzzle as to who Satoshi really is. There was one suggestion that the name might be a portmanteau of four significant technology companies from Asia, namely Samsung, Toshiba, Nakamichi, and Motorola.
And because of the fluent English posts from Nakamoto, some would think twice about his nationality. People would now think that Nakamoto is not a real human being but could either be a code or a mysterious group of companies altogether. On December 12, the well-known founder of Bitcoin addressed the public about his forever absence from the cryptocurrency world.