The Mystery Of Who Created Bitcoin — And Why It Matters
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Q: Who created Bitcoin?
A: The identity of the creator of Bitcoin remains a mystery.
No one knows for sure who created Bitcoin. The creator of one of the most transformational technologies in human history has somehow remained anonymous.
Satoshi Nakamoto is the pseudonym of the creator of Bitcoin. Presumably, Nakamoto is one person. However, there is a possibility, albeit slight, that Bitcoin was developed not by one person but by a small group of developers.
Nakamoto went to great lengths to preserve anonymity. A handful of people have either come forward and claimed to be Nakamoto or are suspected to be Nakamoto. However, no one has been able to prove that they or anyone else is, indeed, Satoshi Nakamoto.
Later in the series, I’ll dive deeper into the list of prime suspects in the mystery of “Who is Satoshi Nakamoto?”
Q: When was Bitcoin created?
A: Bitcoin was launched in January of 2009.
After spending a year and a half working on the project with a select group of programmers, Satoshi made Bitcoin public in 2008. Many experts in the field of cryptography were, at first, skeptical of the concept.
The first block in the blockchain was created on Jan. 8, 2009. The first-ever transfer of Bitcoin was made on the evening of Jan. 11 when Nakamoto transferred 10 BTC (now worth over $300,000) to Hal Finney’s wallet. Finney is the inventor of Bitcoin’s proof of work algorithm.
Proof-of-Work: A system that determines which bitcoin nodes will be awarded blocks to mine. Before a block is assigned, a node must prove its worthiness by solving comlex math equations.