I like reading about the greatest contributors to cryptography and also, searching and finding the accounts of the people who have contributions in the cryptocurrency especially Bitcoin, and upon searching, I came across on the account of Wei Dai. and it interests me on what his contributions are.
So here are some little background about B-money and small biography oh Wei Dai.
Wei Dai-According to different sources,
Wei Dai graduated from the University of Washington, having a degree in computer science but other sources says he's a software engineer. He worked in the Cryptography Research Group at Microsoft Corporation in Redmond, Washington. Wei Dai was a member of
Cypherpunks,
Extropians, and
SL4 mailing lists in the 1990s. He is widely known for his different contributions to cryptography. He developed programs such as: (you can see all of his contributions and programs at his website)
- Crypto++ cryptographic library
- B-money
- Cryptocurrency System
- Co-proposed the VMAC message authentication algorithm.
-Wei Dai also listed as an inventor on U.S. patents
5724279 and
6081598 which were assigned to Microsoft.
- 5724279-Computer-implemented method and computer for performing modular reduction
- 6081598-Cryptographic system and method with fast decryption
Here is Wei Dai's Bitcointalk account:
https://bitcointalk.org/index.php?action=profile;u=1954Website:
http://www.weidai.com/Lesswrong Account:
https://www.lesswrong.com/users/wei_daiB-Money-B-money is simply and anonymous distributer digital currency or electronic cash system through computer network trade with each other that is verified with SHA-1 hash functions. In 1998, Dai helped to spark interest in cryptocurrencies with the publication of the
B-Money white paper, In the paper, Dai outlines the basic properties of all modern-day cryptocurrency systems:
-The white paper proposes an alternative money creation that is divided into four phases:
- Planning
- Bidding
- Computation
- Money Creation
-"Wei Dai outlined his version of a crypto-anarchist dream for a community where violence would not be possible due to the fact that the physical locations and real identities of people would be obscured from public knowledge. Due to the lack of violence, Dai believed there would be no need for governments and the institution would become permanently unnecessary. However, Dai recognized that for his dream to become a reality, a community that could communicate and transact in a peer-to-peer way would have to be created."
-Wei Dai was the author of B-money, in which the protocols of B-Money which Bitcoin was based on. The concept of proof-of-work, the broadcast and signing of transactions as well as the decentralized ledger come from B-money.
-The incentivization of currency creators through the mining process, as is seen in bitcoin, is also based on Dai’s proposal. It is important to note that Dai’s paper on b-money was cited as a reference by bitcoin’s pseudonymous creator Satoshi Nakamoto.
From: "Satoshi Nakamoto" <
satoshi@anonymousspeech.com>
Sent: Friday, August 22, 2008 4:38 PM
To: "Wei Dai" <
weidai@ibiblio.org>
Cc: "Satoshi Nakamoto" <
satoshi@anonymousspeech.com>
Subject: Citation of your b-money page
I was very interested to read your b-money page. I'm getting ready to release a paper that expands on your ideas into a complete working system.
Adam Back (hashcash.org) noticed the similarities and pointed me to your site. I need to find out the year of publication of your b-money page for the
citation in my paper. It'll look like:
[1] W. Dai, "b-money,"
http://www.weidai.com/bmoney.txt, (2006?).
You can download a pre-release draft at
http://www.upload.ae/file/6157/ecash-pdf.html Feel free to forward it to
anyone else you think would be interested.
Trivia:
Wei was named after Wei Dai which is the smallest denomination of ether.
1 Ether = 1,000,000,000,000,000,000 Wei (10^18)
-Wei Dai is Satoshi? what do you think.
Sources
https://en.wikipedia.org/wiki/Wei_Daihttps://en.bitcoin.it/wiki/Wei_Daihttps://patents.google.com/patent/US5724279A/enhttps://patents.google.com/patent/US6081598A/enhttps://www.gwern.net/docs/bitcoin/2008-nakamotohttps://btcmanager.com/the-history-of-bitcoin-part-3-what-is-b-money/https://www.investopedia.com/terms/w/wei.asphttps://btcmanager.com/the-history-of-bitcoin-part-3-what-is-b-money/http://crypto.marketswiki.com/index.php?title=Wei_Dai
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