NChain Chief Scientist Claims to Be Satoshi in An Attack Launched at CFTC on Ethereum (ETH)

Ethereum Price Prediction Analysis Latest News

Craig Wright, the chief scientist of NChain, has criticized Ethereum (ETH) and claim to be Bitcoin’s (BTC) inventor, Satoshi Nakamoto.
Responding to the CFTC’s request for more input on crypto mechanics and markets, Wright set out his case that he is Nakamoto.
Bitcoin (BTC) Price Today – BTC / USD

NamePrice24H %
bitcoin
Bitcoin(BTC)
$11,743.08
2.33%

The NChain chief scientist said he is Bitcoin’s (BTC) creator back in late December of 2015, offering documentation to back his claims. Initial support from several quarters soon moved away, and skepticism crept in making the Bitcoin bull say he would provide more evidence by moving BTC mined by Satoshi in the early days of Bitcoin. Days later Wright said he wouldn’t do so.

Wright’s Claims are Controversial at Best

Wright’s claims remain controversial and are yet to be proven.
Giving his reply to the CFTC, Wright made a strident critique of the underlying technology and governance of the blockchain as well as smart contract platform Ethereum (ETH).
In his words:
“Ether is a poorly designed extension of Bitcoin (BTC) created with the sole purpose of scripting and completing the promise of smart contracts that were delivered in Bitcoin (BTC) and hobbled by the core developers of the digital asset who sought to facilitate anonymous transactions within the system.”
Wright made the above remarks following a request for input by the CFTC last December which the regulator is seeking public feedback regarding different questions about the Ethereum (ETH) network ranging from issues with its technology, and it’s usage.
Wright added that the Ether network couldn’t scale. According to him, it has “reached its computational limits.”
“It is effectively being used to only raise capital with illegal bucket shops designed in a way that they can appear successfully deceive nontechnical parties.” He said.

Bitcoin (BTC) Can be Arranged for Infinite Scaling to Occur

Bitcoin (BTC) on the other hand, according to Wright, can be set up to allow “infinite scaling.” It can also “leave simple verifications letting a system that globally scales and delivers a distributed computational method.”

Ethereum’s (ETH) model is altered to copy Bitcoin (BTC)

Wright also launched an attack at the governance model of the Ethereum (ETH) Blockchain, saying it’s “under the control of a central group, that uses misleading remarks about being decentralized to cover the fraudulent makeup of a digital security.”
Wright argued that decentralization is only a myth because the control of Bitcoin (BTC) and Ethereum (ETH) is “limited to the people who run nodes. These ones generally run at large data centers, not home networks
The NChain chief scientist concluded that he was “willing to testify to his claims.

Wright Has to Prove His Claim of Being Satoshi

Twitter is, buzzing following the CFTC’s response to Wright’s claims with many skeptics calling for the NChain chief scientist to prove his claims by moving Satoshi’s Bitcoin (BTC).
Recently Ethereum’s (ETH) co-founder Charles Hoskinson posted a tweet about Wright’s latest claim of being Satoshi.
We can recall from a previous report from last year, that the Ethereum’s (ETH) inventor Vitalik Buterin tagged Wright a “fraud” in a South Korean event they both appeared on.
Coinbase, ErisX and Consensys, have also responded to the CFTC’s call.

Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.