Who Is Satoshi Nakamoto?
The major elusive name in the crypto space still remains Satoshi Nakamoto, an alias for the creator of BTC. Bitcoin was created in the year 2009 and has caused a radical change in the financial industry. Blockchain technology is growing to a household name and one of the greatest inventions of all time, all thanks to the creator of BTC, Satoshi Nakamoto.
These facts still generate further questions which remain unanswered in the space. Among these questions are; who is Satoshi Nakamoto? When will his identity be revealed, or will it ever be revealed? Why was BTC creation so influential?
Who is Satoshi Nakamoto?
Till now, there is no clue as to who this person could be as his identity remains veiled from the space. Of course, there are hints here and there pointing to who he (or they) could be. Satoshi Nakamoto became the first to truly establish a decentralized platform. He achieved this with the creation of BTC in 2008, and this feat shocked the financial industry. The issues attached to the existence of digital transactions is the possibility of double-spending and the need for a middleman to always be there to verify transactions, but BTC verifies all its transaction on its own setting middlemen aside.
As Investopedia put it, “Nakamoto simply made a decentralized, self-sufficient transactions approach, leading to the creation of what is called blockchains. Using a blockchain, there are timestamps attached to each transaction at the end, and it creates a permanent irremovable record solving the problem of crypto double-spending.”
This feat made crypto transactions more secured, cutting off middlemen. But with this comes more questions to answer.
Why is The Creation of BTC Influential?
Just like it was mentioned previously, the solution offered by blockchain became a gamechanger. And fundamentally, BTC became the pioneer assets to use the blockchain, hence, becoming the blueprints for other existing blockchains and even more to come.
Binance and Ethereum, though they are two of the largest blockchain in the world, got their blueprint from BTC. Ethereum is the first blockchain to imitate BTC. According to Investopedia, the Ethereum network not only facilitate a decentralized payment network but also handle codes that facilitate decentralized applications and financial contracts. These contracts are called Smart Contracts and are not originally a feature on the Bitcoin blockchain. But it is obvious that it will not be possible without the initial access to the blueprint of BTC Blockchain.
Will Satoshi Nakamoto Ever be Known or His Identity Revealed?
A sincere answer to this is probably not. Everyone on and off the crypto space has been eager to know who Nakamoto is. Though over the years, there has been some thread to pull to trace the identity, oftentimes, it leads to a dead end.
Sometimes ago, Dr Craig Wright claimed he was Nakamoto, but while the community is trying hard to believe, there are just some facts that didn’t tally. Of a truth, the real Satoshi Nakamoto might never reveal his identity, and for many people, it is understandable. He just wants to create a safer, faster, and easier way to conduct transparent digital transactions rather than become famous.