Sunday, March 24, 2019

Earliest Version of Satoshi’s Bitcoin Source Code Reveals Interesting Facts

On March 13, the earliest version of Bitcoin source code which was developed by Satoshi Nakamoto was released on Bitcointalk.org’s platform. Since then, the private source code has been a subject of interest for several cryptocurrency enthusiasts. Thus, while the identity of the Bitcoin’s creator may be unknown, what may have gone through the creator’s mind can be ascertained from the old piece of code.

Bitcoin’s Pre-release Source Code Gets Shared on BitcoinTalk

Satoshi Nakamoto’s earliest Bitcoin source code was recently released in a cryptocurrency forum, BitcoinTalk. Francis Pouliot, a Bitcoin proponent shared the link to code which was published on the platform by a user, Cryddit. It is assumed that prior to January 3, 2009, the program was distributed as a letter to other people.

On closer inspection of the code, there are several noticeable changes from Bitcoin’s Whitepaper which was released in January 2009. For instance, the source code refers to Blockchain as ‘Timechain’. There is also a screenshot to show the level of performance of the distributed ledger technology. Here, some completed transactions as well as when they occurred were recorded.

Dissimilarity in Bitcoin’s Unit of Measurement Term

Another dissimilarity is the reference to the smallest units of Bitcoin which are currently known as Satoshis. In the paper, the smaller units of Bitcoin are called ‘coin’ (1,000,000) while larger units are known as ‘cent’ (10,000).

In the same manner, the source code refers to miners as ‘Bitcoin miners”, whereas, the Whitepaper tagged these set of people as ‘Nodes’. Satoshi goes on to describe how each node picks up a transaction and ensures that it meets the proof-of-work requirements before broadcasting it to be added on the blockchain.

In the creator’s own words:

“Nodes collect new transactions into a block, hash them into a hash tree, and scan through nonce values to make the block’s hash satisfy proof-of-work requirements. When they solve the proof-of-work, they broadcast the block to everyone and the block is added to the timechain. The first transaction in the block is a special one that creates a new coin owned by the creator of the block”.

Incorporatinf P2P Market Place and Virtual Poker Game

Mike Hearn, a Bitcoin developer also revealed that Satoshi had plans to include a peer-to-peer market place in the protocol. Nonetheless, the section of the code that would’ve covered that aspect was never finished.

Other than the pre-release, there is reportedly an original repository which held Bitcoin’s 0.1.0 code. An IRC client framework was included in the repository in order to support a virtual poker game. However, the latter never came to be.

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