Satoshi Nakamoto: The enduring mystery of Bitcoin’s founder – Khaleej Times

Satoshi Nakamoto: The enduring mystery of Bitcoin’s founder – Khaleej Times

Satoshi Nakamoto is a pseudonym and the person or persons behind it have not been identified even 12+ years later.

Bitcoin has undoubtedly laid the foundation for the rapid development of Blockchain technology as we know it today. It all started soon after the financial crisis of 2008 when, on 31 October, the now-famous whitepaper “Bitcoin: A Peer-to-Peer Electronic Cash System” was shared on a cryptography forum by Satoshi Nakamoto, as an answer to the shortcomings of the traditional, fractional financial system that had led to the crisis.

That was the start of not just a new asset class but also the beginning of a mystery or enigma because Satoshi Nakamoto is a pseudonym and the person or persons behind it have not been identified even 12+ years later.

A few days after the whitepaper, Nakamoto registered the project on SourceForge, the open-source code platform, and on 3 January 2009 the first-ever Bitcoin block, named the genesis block, was mined, awarding Satoshi the first 50 Bitcoins of the 21 million that will ever be created.

In that block, Nakamoto put the message: “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”, a headline of London Times that day, which has been interpreted as both a timestamp and a critique of the traditional financial system.

Regardless of who Satoshi Nakamoto really is, on January 12, 2009, he made the first-ever Bitcoin transaction, sending 10 BTC to developer Hal Finney, who was
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