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Adam Back is not Satoshi Nakamoto
Adam Back is not Satoshi Nakamoto
Bitcoin

Adam Back is not Satoshi Nakamoto

By Amelia Tomasicchio - 12 May 2020

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Adam Back denies being Satoshi Nakamoto. Yesterday, in a tweet, the CEO and co-founder of Blockstream reiterated that he is not the creator of Bitcoin.

If on the one hand there are those like Craig Wright of Bitcoin Satoshi Vision who file lawsuits and do everything possible to associate his name with that of Satoshi Nakamoto, on the other, there are those like Back who want to distance themselves from these rumours, explaining that he is not the inventor of the blockchain, contrary to what is rumoured on Reddit and other forums and social networks.

The HashCash project

It’s certainly true, however, that Adam Back was among the first to exchange emails with Satoshi on the topic of coins based on encryption when Bitcoin was not yet called like that.

In 1997 he was also the creator of a system similar to the Proof of Work used today as a consensus method on Bitcoin’s blockchain, theorizing a coin called HashCash, formally described in a document dated 2002 and from which Satoshi Nakamoto perhaps took inspiration for his creation.

HashCash aimed at resisting a series of potential hacker attacks including DDoS attacks. The use of a form of PoW also had to limit its distribution thanks to a deflationary system.

The latest developments concerning Adam Back

Last January, Adam declared that the price of Bitcoin (BTC) will sooner or later reach staggering values such as $10 million.

In addition, Back had recently been the focus of media attention for almost allying with Justin Sun, CEO of the TRON Foundation, in order to fight the superpower of Ethereum and Vitalik Buterin.

In fact, this collaboration subsequently led TRON to land on the Lightning Network thanks to Liquid and the help of Back.

 

Amelia Tomasicchio
Amelia Tomasicchio

As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for Cointelegraph and CMO at Eido. She is now the co-founder and editor-in-chief of The Cryptonomist.

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