Satoshi Nakamoto is the creator of Bitcoin, the cryptocurrency currently in a frenzy because of valuation surpassing $16,000/BTC. Interestingly enough, Nakamoto is not actually a real person but a pen name. My guess is he’s a millennial.
Nakamoto created the currency in 2008 as an experiment. He created an internet protocol that could facilitate peer to peer transactions. Bitcoin is popular because it’s open source and decentralized. Anyone can own a Bitcoin and there is no government controlling it like the US Dollar. The blockchain makes it all possible. It’s a decentralized list that records every transaction ever made. Bitcoin basically makes the traditional ledger, found in a bank, public knowledge. If you want to spend Bitcoin, it can be sent to anyone on the network. These are where “miners” come into play. Sending Bitcoin requires solving a complex mathematical equation and the miners are the ones who process those transactions. This technology has the potential to open huge avenues for innovation. It solves one of the key problems to making transactions which is trust. Bitcoin takes the human element of trust and converts it into a mathematical formula. This technology is the first of its kind and I predict huge growth in the future.