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Satoshi Nakamoto is/was an individual, and not a group of people, claims Blockstream’s Adam Back

Arijit Sarkar

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Adam Back debunks Satoshi Nakamoto and block size predicaments
Credit: Pixabay

Consensus 2019 was a lively affair with a host of noted crypto-proponents gracing the event. The conference came days after a major hack hit Binance, while the larger cryptocurrency market continued to make significant gains. The event allowed many popular crypto-proponents to be interviewed. Adam Back, CEO of Blockstream, was one of them. In his interview with Cryptofinder, on the sidelines of Consensus, Back discussed his views on the identity of Satoshi Nakamoto and network decentralization.

Back stated that he strongly believes that Satoshi Nakamoto is/was an individual, and not a group of people. He supported this claim by pointing out the “continuity in coding and writing style” in Satoshi’s emails and papers. Back added,



“The original (Bitcoin) version is implemented on Windows, which is also kind of atypical. Most of the applied crypto and networking programmers or consultants tend to work on Linux.”

Back added that his initial email conversations with Satoshi Nakamoto made the sender seem like an individual “who looked at the (inflation) problem afresh.” Further, Back also discussed the implications of increasing the block size for the crypto industry. He argued that using ‘bandwidth’ for processing transactions can be taxing for developing demographics such as Africa and India. On the other hand, he also said that implementing ‘memory-based processing’ can slow down transaction times as “pointers in data structures tend to use up a lot of space.”

Back suggested the use of satellite bandwidth, which he believes, can help countries with expensive Internet connections and cut processing costs. He added,

“Another way to scale is to have different layers, which can avoid people with different use cases, cost sensitivity,  and access to bandwidth to compete for the same resource.”





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Binance Coin [BNB] registers ATH as it surges by over 16,000% since inception

Namrata Shukla

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Binance coin [BNB] registers ATH as it surges by over 16,000% since inception
Source: Pixabay

The cryptocurrency market continued to register massive growth, as the prices of most major cryptocurrencies soared. However, the late entrant to the list, Binance Coin [BNB] is posing to be tough competition for other coins in terms of performance. BNB which entered the crypto market in July 2017, breached its all-time high and was trading at $28.79, at press time.

Source: Trading view

Source: Trading view

Binance Coin started out in July 2017 with a value of $0.1927 and marked its all-time high on May 18 at $31.91, according to the Trading View chart of the coin on Binance. BNB noted the growth of a massive 16,458.31% since 2017. However, until the beginning of 2019, BNB was valued at $6.59, after which the coin noted a surge by 384.15% and peaked at $31.



Source: CoinMarketCap

Source: CoinMarketCap

In the month of May, BNB noted a 28.16% growth, and the coin was valued at $28.66, with a market cap of $4.04 billion. The 24-hour trade volume of the coin was reported to be $551 million as it spiked by over 10% in a day. In the past seven days, the coin grew by 35.97%, but slipped by a minimal 0.25% in an hour.

BNB was highly traded on its native exchange, Binance via the BNB/BTC and BNB/USDT pairs. The BNB/BTC trading volume noted on Binance was $140 million, while the volume reported on the BNB/USDT pair was $132 million. The third place was taken by BKEX via the BNB/USDT pair as it registered a trading volume of $72 million.





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