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New Research Suggests Bitcoin’s Satoshi Nakamoto Also Created Monero (XMR)

New evidence suggests that the anonymous creator of Bitcoin, Satoshi Nakamoto, might have also created privacy-focused cryptocurrency, Monero (XMR). For one thing, Bitcoin (BTC) and Monero share quite a number of similarities including the anonymity of their founders.

Nakamoto same as Nicolas van Saberhagen?

Conducted by Monero Outreach, a workgroup of the decentralized Monero community that aims to drive greater Monero adoption and awareness, the research claimed that Nakamoto and the unknown author of the Monero whitepaper, Nicolas van Saberhagen, may have been the same person or group. 

According to the report, both whitepapers have significant similarities in texture with a little difference in technicality, which came as a modification to Bitcoin.

The whitepapers were written with the same unexpected spelling of “favour/favourable,” use of “can’t” for contraction, which is contrary to the usual style of academically formatted papers. Also, both used the wording “In this paper, we…,” and black-and-white line drawings with solid and dashed lines, etc.

Bitcoin whitepaper, “Bitcoin: A Peer-to-Peer Electronic Cash System,” described the network, the blockchain, including the proof-of-work algorithm, which is meant to secure the blockchain without any need for a central authority.

Monero, an improved Bitcoin?

Saberhagen’s CryptoNote whitepaper, “CryptoNote 1.0,” which created Monero, improved on Bitcoin. It introduced changes on the Bitcoin’s blockchain structure and a new proof-of-work, which addressed the issues with Bitcoin after invention.

By the time of CryptoNote Whitepaper, Nakamoto witnessed the struggles with Bitcoin’s block size changes (as he stealthfully inserted a 1 MB block size limit into the Bitcoin codebase in 2010) and mining reward halving, which was addressed in the new whitepaper, the findings suggest.

Things got more apparent, as Nakamoto first posted the concepts for privacy in cryptocurrency on a Bitcointalk forum on August 13, 2010, which was later featured in the CryptoNote Whitepaper. The Monero whitepaper had also proposed simplifying transaction scripts and dynamically adjusting block reward and size.

“When you first look at those two documents side by side, you can get floored by the crazy similarities,” said Thunderosa, Monero Outreach Creative Lead, adding that “maybe we should start calling the author Satoshi van Saberhagen.”

However, Thunderosa said the findings shouldn’t be embraced entirely by either the Bitcoin or the Monero community.

“Like many, I’m still processing this. I will, though, say with confidence that if Satoshi Nakamoto is Nicolas van Saberhagen, Monero was Satoshi’s greatest work,” said Xmrhaelan, Monero Outreach Organizer.

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