Posted on: 28. February 2018

Satoshi Nakamoto

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Satoshi Nakamoto: the inventor of Bitcoin

Satoshi Nakamoto is a name in connection with Bitcoins, which are on everyone's lips as a hot new investment opportunity, thanks to their unique generation — people around the world have access to the Bitcoins created by mining.

Although Bitcoins and their impact on society and the controlled capital markets are constantly the subjects of debate, the inventor of Bitcoins is all too often forgotten.

Satoshi Nakamoto is the inventor of the Bitcoin algorithm. His name appeared on a white paper that was published in November 2008 and spread in no time on the Internet.

The white paper was followed by an email with no trackable sender, in which the Bitcoin protocol was transmitted. Since transmission of the protocol, Bitcoin stands at the center of all other cryptocurrencies.

Guesswork for the creator of Bitcoin

It is still unclear whether Mr. or Mrs. Nakamoto really exists. Again and again, a group of computer scientists is suspected as being responsible for the sophisticated system of blockchain, which today has the majority of the Bitcoins generated in the mining process.

So far, the Bitcoin community and the rest of the world are waiting for a human or a group of people who identify themselves as inventors of Bitcoin to step forward.

The cryptocurrency pioneer or pioneers, who are 100 percent decentralized and are not subject to any state control, have created a chain of complicated computational tasks with Bitcoin.

If these tasks are solved by a computer system, there are Bitcoins as a reward for the solution. In many ways, the mining is reminiscent of the mining of raw materials.

In any case, Mr. or Mrs. Nakamoto is a computer science specialist whose cryptocurrency could create a new financial world in which every transaction in a blockchain is counterfeit-proof.

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