Greetings everyone,

Introduction

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This week professor @awesononso has successfully delivered his lecture on Satoshi Nakamoto, Wei Dai and Cryptocurrency Units of Measurement.
An eye opening lecture about matters concerning the crypto world which I have been impressed with the lecture.

After going through his lecture, I will now submit my homework task.

1.Who is Satoshi Nakamoto?

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Satoshi Nakamoto is the answer you will be given when you ask who is the creator of the famous cryptocurrency bitcoin.
Coincidentally after mentioning this name most people say that the founder of bitcoin is unknown as the they are not aware If the name belongs to a group of people or it is a name belonging to an individual.
This person or group of persons is believed to have created the whitepaper of bitcoin in the year 2008 and then titled it as the peer-to-peer electronic cash system.
Nakamoto also brought the first blockchain database.

All this theory stated above comes into existence because the first bitcoin block mined was traced back to the name of ** Satoshi Nakamoto**
Earlier on in 2009 Satoshi Nakamoto launched the software of bitcoin popular known as the bitcoin cryptocurrency.

He is believed to have been born on the 5th April 1975 and is believed to be of a Japanese originality. In the year 2007, Nakamoto said him or they began to write the code of the bitcoin. On 2008 the domain name of the website bitcoin.org was registered following a website creation.
As earlier stated, the cryptocurrency software was released on 2009; the version 0.1 which is actually the first version of the software that was released.

Satoshi Nakamoto saw the banking system to be outmoded mainly because it was centralized system so he was looking for something that was not controlled by the system and did not follow anybody.
He was also looking for a system that did not charge as mush transaction fees as the centralized system.

2Write on two claims/theories of Satoshi Nakamoto’s identity.

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Nick Szabo

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Have we heard about the popular bit gold? Well this concept was brought about by Nick Szabo is a computer scientist and also a cryptographer who is American, precisely from the United States. He has been accused of being Satoshi Nakamoto for the past years and he has been denying this for a while.
As I explained earlier, he developed the concept of of the decentralized digital currency know as the digi gold in the year 1998.
Just as I have said this is a concept which has not been implemented yet.
He is also known for the development of the concept of smart contracts.
Being accused by a financial author known as Dominic Frisby who claimed and provided evidence that pointed to Nick Szabo as a potential Satoshi Nakamoto but as always he denied this claim through an email that read

"I'm afraid you got it wrong doxing me as Satoshi, but I'm used to it."source

Dorian Satoshi Nakamoto

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Dorian Satoshi Nakamoto is a Japanese-American who worked for a company known as Information and financial service companies as a computer engineer.

Satoshi's daughter claimed her father was laid off from work in the early 1990s ad due to this her father encouraged and advised her to start up her own business where she will not be controlled by anyone especially the government.
In the year 2014 an article in the magazine by Goodmanstated that in an interview Satoshi was asked about bitcoin and he somehow confirmed that he was involved in the the project but he is no longer involved.

"I am no longer involved in that and I cannot discuss it. It's been turned over to other people. They are in charge of it now. I no longer have any connection.source

He somehow comfirmed that he had been part o the team but he no longer works or is not part of the team as he has lost connnection with the project.

After this one on one interview, the media somehow misunderstood his answer by misinterpreting the use of ''It'' to mean bitcoin.
Since that day Satoshi has denied all links to the bitcoin project.
may people say that it is either Satoshi misunderstood the interviewer's question or the it was the media who misunderstood what he was saying.

3.Who is Wei Dai?

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Wei Dai is a Chinese who works as a computer engineer who graduated from the University Of Washington with a degree in computer science.
He is known for the creation of the b-money and is behind the development of the Crypto++ cryptographic library.
He is also known to have co-founded the VMAC message algorithm.

In the year 1998 Dai announced the b-money, a distributed electronic cash system.
With the release of the b-money system into the crypto world it created a lot of fuss in the crypto world.
When one goes through the paper if b-money, he will realise that almost all the concepts of the modern day bitcoin can be found on it.
Which means the b-money should have been the first cryptocurrency to come into existence but for the delay.

This further goes to make people believe that Wei Dai is Satoshi Nakamoto but he has denied all accusations stating that

"my understanding of is that the creator of bitcoin, who goes by the name Satoshi Nakamoto, didn't even read my article before reinventing the idea himself. He learned about it afterward and credited me in his paper.
So my connection with the project is quite limited."source

Wei Dai alongside Adam Black were the first 2 people contacted by Satoshi to help him in developing his ideas for the bitcoin project in 2008.

As stated earlier, the crypto++ was developed by Wei Dai but he later on left the project in 2015 for other to handle and they are known as the crypto++ team.

4.What is the current value of Bitcoin on the day you are performing this task? Calculate the USD value of one satoshi of the current value. (Show full working and to 3 s.f).

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Solution

As at the time of doing my homework the price of vitamin in dollars according to coinmarket cap is 39,799.30

A satoshi is equal to 1/100000000 bitcoin.

Therefore

1 satoshi = 1/100000000×1 bitcoin
1 BTC = $39,799.30

Therefore,
1 satoshi = 1/100000000 × $39,799.30
1 satoshi = 0.000397993
1 staoshi = $0.000398 to 3 sig figures

5.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. (Show full working and to 3 s.f).

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As at the time I was doing my assignment the price of Ethereum was at ...

1 Gwei is 1/1000000000 of ether.

Therefore,
1 Gwei =1/1000000000×1 ether.

1 ether = $2,727.12

Therefore 1 Gwei = 1/1000000000× 2,727.12

1 Gwei = 0.0000027271
1 Gwei = 0.00000273 to 3 sig figures

6. Transfer 0.001 Steem to an account. Then send 0.0001 steem. Show what happens and state why.

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Transferring 0.001 steem to a different account.

I will be demonstrating how to send 0.001 to @chenty in this part if the assignment.

a) First of all I entered into my steemit wallet.

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b) I then located and clicked on the arrow close to the steem balance pointing downwards which displayed the transfer button.

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c)I entered the username and then entered the amount (0.001steem) in the amount section.

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d)After that I gave it the memo Task 1 and then clicked on next.

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e) I then clicked on ok to confirm the transaction.

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As seen from the screenshot the transaction went through without any complications

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Transferring 0.0001 steem to a different account.

For this demonstration I will use the same username(@chenty as I did for the first demonstration)

a) After entering my wallet and clicking on the drop down arrow besides the steem balance, click on transfer.

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b) After that I entered the username to send the amount to the amount(0.0001) steem.

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c) After entering the amount a message popped up saying I should "use only 3 digits of precision", which means that you can only transfer a maximum amount of steem with 3 decimal places on the steemit network.

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Conclusion

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The professor has lectured on the a topic that looked to give us insight on the founder of bitcoin and also the supporting founders.
He has also taught us the amount to decimal the steem blockchain allows.
I have realized that when you send steem on the steemit blockchain and the amount is in more than 2 decimal places are
And I must say I am indeed grateful for this thoughtful and eye opening lecture.

Thank you.