Are You a Satoshi Scholar? Test Your Understanding of the Bitcoin Whitepaper
Yesterday was Bitcoin’s 11th birthday. A lot has happened since Satoshi’s release of the Bitcoin whitepaper on October 31, 2008, including the release of Ethereum and hundreds and hundreds of alternative cryptocurrencies.
People are drawn to cryptocurrency and blockchain technology for various reasons whether it’s freedom from centralized banking or oppressive governments to pure interest in the decentralized technology or just merely speculation for potential profit.
It’s reasonable to assume if you are reading this, then you have an interest in cryptocurrency and probably use, trade, or hold cryptocurrency. If you buy cryptocurrency, you have a responsibility to have some level of familiarity with the Bitcoin whitepaper.
To celebrate Bitcoin’s 11th Birthday, see how many of the following sentences you can complete. They’re all taken directly from the original Bitcoin whitepaper. The degree of difficulty you have with completing these could be representative of a need to learn more about bitcoin, blockchain and decentralized technologies.
If you think you might be a Satoshi Scholar and easily recognize the missing terms, set a timer for fun and see how long it takes you to finish. If it takes you longer than the time it takes for a new block or two to be added to the blockchain (10-20 minutes), it’s probably time to study and learn more.
Complete the title of the bitcoin whitepaper.
Bitcoin: A Peer-to-Peer [ ] Cash System
The following is the very first sentence of the Abstract.
A purely [ ] version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.
The next one also comes from the Abstract.
The longest chain not only serves as proof of the sequence of events witnessed, but proof that it came from the largest pool of [ ] power.
The next one comes from the introduction section of the whitepaper.
What is needed is an electronic payment system based on [ ] proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted [ ] party.
This next one comes the section in the whitepaper labeled: 4. Proof-of-Work
To compensate for increasing hardware speed and varying interest in running nodes over time, the proof-of-work difficulty is determined by a moving average targeting an average number of [ ] per hour.
This last comes from the section in the whitepaper labeled: 12. Conclusion
They vote with their CPU power, expressing their acceptance of [ ] blocks by working on extending them and rejecting invalid blocks by refusing to work on them.
How did you do? Go to the Bitcoin whitepaper and see how many you got right.