Thank you all for opening my post, before we head into this week's homework task, let's quickly take a look at my table of contents.

i. Introduction

Cryptocurrency today has completely taken over the world. The idea of online currency has evolved the planet earth and in return, has made a lot of people wealthy. This cryptocurrency, which is highly decentralized, and on blockchain technology has struggled through the years to attend this position and value in the present world. A lot believed that it was just a ponzi idea to rob people of their asset. Instead, it has proven to be one of the world's largest and biggest financial ecosystems. And for this reason, we will be talking about Satoshi Nakamoto and some other currencies as instructed to see how far and how good this journey of online currency has gone.

I want to use this medium to thank the lecturer for this week's homework. It's really a great one and I forward to more of your lectures.

1.0 ABOUT SATOSHI NAKAMOTO

Have you sat down to study and understand the history of the world's most valuable cryptocurrency, Bitcoin? Under this section, we will look into Satoshi Nakamoto. This name is unique. Satoshi Nakamoto is claimed to be the name of the person(s) who programmed, authored and introduced the Bitcoin and Bitcoin white paper. Prior to the development of the Bitcoin white paper, it is also believed that the Satoshi developed the ever blockchain system, in an to implement decentralization

Satoshi Nakamoto was claimed to be 46 years of age and hails from Japan.

1.1 The coding

Nakamoto has earlier mentioned that the programming and development of Bitcoin started in 2007, though claimed to be registered with domain name bitcoin.org, which was also used as the website address in 2008. When everything was set for Satoshi Nakamoto, the Bitcoin white paper was enlisted that same year in December 31st on metzdowd.com as an online currency with the name Bitcoin, which runs on a decentralized coding of e-money system.

Nakamoto did lots of collaborations with different developers on Bitcoin during this time. The collaboration was successful and was properly worked on until 2010 when Nakamoto decided to program all codes to himself. After coding everything, which could only be accessible by him alone, he then gave all the control and codes to another programer, Gavin Andresen. Not only to Gavin, he gave out all domains which has to do with the Bitcoin technology to same community members and exited himself from the project. Since then, Nakamoto has never been involved in any Bitcoin related operations.

1.2 Identity of Nakamoto

Bitcoin as it is today is claimed to have an unknown founder. Nakamoto who has been claimed to be the founder has never disclosed his personal information to anyone. Nakamoto is claimed to be 46 years old man today, and hails from Japan. A lot of other has also denied this, claiming he is not a Japanese because of how fluent he was in speaking English. All these are claims and has not been physically proven to people.

While people saw Nakamoto has an individual, others believed it may be a team of people. Some said Nakamoto might be the name of the group of developers who founded the Bitcoin white paper. The works, coding and development of Bitcoin was properly done; That's why Dan kaminsky believed it was rather a group of professional developers, or it might be a real genius.

Just as I've said, the coding was too clean and exceptional, which made Laszlo Hanyecz and Gavin Andresen believed that it was done by more than one programmers.

Nakamoto was so good in his English as related to the Bitcoin technology, and has kept people thinking about his actual origin. A lot of English words used in coding the system of Bitcoin revealed to be 100% type of British written words. When programmers look into his work, they get get convinced that he's from Japan. Some as also published articles claiming he his of a British decent.

2.0 Write short notes on any four cryptocurrencies.

In this second part, I will be writing on other cryptocurrencies different from Bitcoin. The currencies I have chosen to write on are steem, Tether (USDT), blurt and Tron(TRX)

2.1 STEEM

The STEEM coin is a wonderful cryptocurrency. It is the sole coin used to fuel the steemit platform. Steemit is a social platform developed on a blockchain technology which was founded by Dan Larimer in 2014. The platform reward their users for publishing, commenting and engaging lot of different activities on the platform. As of time of development, the coin was still on $0.0 untill when it was fully implemented in April 2016, having it first value as $0.6429.

Here in steemit, not only steem is used to reward users. It has different coin, and has recently included the tron as a means of rewarding writers. Some of it rewards are:

Steem coin; This is the main currency that is used to fuel the system. Also used as the sole means of rewarding members.

SBD; This is another means of payment. It comes in form of the USD. This can also be used to purchase steem coin on the platform.

Steem power; This steem power has the same value as the STEEM coin. It is use to make visible the user's reputation and also, determines the user's influence on the site.

TRX; This is another cryptocurrency on it own, but has integrated with steemit last year, now used to reward users too.

Steem coin just as I mentioned earlier, is a good cryptocurrency and is has today seen lots of investors trooping into the platform. There are also different ways of purchasing this coin; using the binance app, roqqu app, coinbase, houbi and lots more.. it current price as of the time of writing this article (Jan 6th, 2022, 8:30am) is $0.403652, and as seen a bearish trend by 9.1%.

2.2 Tether (USDT)

Cryptocurrencies are known for their volatility. But in the case of tether, it is a different species of cryptocurrency that tends to keep the stability of Fiat currency. This coin solved the problem of instability in cryptocurrency by pegging it price to that of the United States dollars, which is 1USDT equals $1. For this reason, lost of investors used it to keep their asset in stable condition for a short period of time.

The Tether which uses USDT as it symbol was originally launched as Realcoin in July 2014 before it was later changed in November that same year. The programming and coding was still in workings until February, 2015 when ful trading started.

As for the time of writing this, 06/01/2022, by 8:44am, the price was at $1.00 with a 0.1% bullish trend.

This currency was developed into the blockchain ecosystem to serve as an intermediate between Fiat currency and cryptocurrency for people who want to run any form of exchange with a minimal amount of charges.
As for investment purposes, this is not a good option as it doesn't vary much like other currencies, but maintain the 1:1 ratio with the US dollars.

2.3 Blurt coin

Just like the steemit and hive platform, blurt is also a social platform which was developed on a blockchain technology. It also rewards it users for writing good, quality and plagiarism-free contents. This site allows users to write on different topics ranging from sport, food, motivations, music, gospel, cryptocurrency, daily activities, nature, photography and lots more.

The main cryptocurrency used as a means of rewarding members is the blurt coin. It also have the blurt power (BP) which appears on the user's dashboard on a black background. The blurt power has same value as the blurt coin, but cannot be paid directly into the user's blurt wallet account, rather, kept in the blurt power wallet account which serves as a means of investment, and also, used to determine the influence and financial performance of the user.

Joining the platform is pretty much simple. Interested persons can slide into www.blurt.blog for registration.

This is a very much good place for investment for those who wants to invest. The coin is of less value and has a promising future. It will be wise to invest in cryptocurrencies with lesser values but good future trend than into currencies with greater values.
Just as mentioned, this platform depends on uniqueness and consistency. For users who wants to be properly rewarded and appreciated, they should be original in their writing, qualitative and consistent.

2.4 TRON (TRX)

What Is Tron?
Tron is a decentralized blockchain technology which was founded in 2017 by an organization in Singapore known as the tron foundation. It aim was to deal with the issue expenses in the case if sharing online contents. It was first marketed in Asia but has now been a top notch cryptocurrency around the world with more than 50 million accounts in 2021.

The Tron platform has it own currency known as the tronix or TRX used in fueling all transactions.

Talking of how this platform operates, it uses the peer-to-peer network to prevent any sort of third party intervention during transactions. By doing this, it allows the buying and selling of products directly between customers and content creators. Tron uses some building blocks such as the dApps, smart contracts and has network which supports other tokens.

3.0 Conclusion

This homework task has given me more knowledge about these cryptocurrencies I have mentioned. I was forced to do more research on them, to know more about them. From the note, we can say that online currencies was not a day something. Based in how the history of Bitcoin was clearly stated, we can say that the programmers dedicated their time and effort in making sure that digital money comes into existence, and it worked.
And with the way remaining four cryptocurrencies listed above, we can say that cryptocurrencies have some similarity to other Fiat currencies based on different asset price and value. These cryptocurrencies have their own value and varies amongst other currencies just like how the Fiat currencies have different values.

4.0 Appreciations

I want to use this medium to thank @chiomy for such a wonderful topic and to @chinonso01 for this beautiful idea. Looking forward for more tasks from you all and to give my best. Thank you all.

Note

All images used in this post was created by me, using the PicsArt application. Thank you.