An nameless put up on the Cypherpunks mailing record from 21 years in the past discusses the concept of “ecash,” and the hypothesis within the crypto neighborhood is that it would belong to a pre-Bitcoin Satoshi Nakamoto.
“Cypherpunk” refers to a motion that emerged within the 1980s advocating cryptography and different privacy-enhancing applied sciences as instruments for selling social change. Most of the early Bitcoin supporters have been a part of the Cypherpunks mailing record, together with Adam Again, Hal Finney, and Nick Szabo.
We have no idea with any certainty whether or not Satoshi Nakamoto was ever a part of the discussion board, however he absolutely would have been accustomed to the concepts percolating there. A lot of these concepts fashioned the idea for what Nakamoto finally finalized in Bitcoin.
When this outdated put up discussing “ecash” resurfaced, it was straightforward to attach the dots to present-day Bitcoin. Recall that the total identify of the Bitcoin whitepaper is “Bitcoin: A Peer-to-Peer Digital Money System.”
The nameless creator of the Cypherpunks put up discusses the required stipulations of digital money, one characteristic of which is named “blinding:”
“I would not say ecash has to make use of blinding, however I’d argue it might be a misuse of the phrase “ecash”, if one thing which was revocable have been dubbed ecash.”
“Blinding” seemingly refers back to the thought of a cryptographic blind signature, launched by David Chaum. It lets individuals securely signal information with out revealing it, after which verifies that the info has not been tampered with. This performance has change into commonplace within the wake of Bitcoin and different cryptocurrencies.
The creator of the nameless put up goes on to debate one other key impediment that any digital forex faces: the double spend downside.
“One chance is to make the double-spending database public. Every time somebody receives a coin they broadcast its worth. The DB [database] operates in parallel throughout a lot of servers so it’s intractable to close it down.”
He concludes his put up by mentioning the 2 proposals for digital cash that have been referenced within the Bitcoin whitepaper: Wei Dai’s b-money and Adam Again’s Hashcash:
“One other attainable type of ecash could possibly be primarily based on Wei Dai’s b-money. That is like hashcash, one thing which represents a measurable quantity of computational work to provide. It due to this fact cannot be solid. This could possibly be a really strong fee system and is price pursuing additional.”
In the midst of a 200-word put up, the nameless touches on each main situation dealing with a usable digital forex, and does so 10 years earlier than Bitcoin pulled all of them collectively. It’s definitely not sufficient to conclude that the creator is Satoshi Nakamoto, however the resemblance is putting.
Credit score: Source link