Bitcoin Founder Also Created Monero (XMR): New Research

A new research indicates that the Bitcoin founder also created the Monero (XMR) cryptocurrency. Satoshi Nakamoto, which is the infamous pseudonym for the creator of Bitcoin, is now linked to the Monero news and shows that the creator had motives to improve Bitcoin’s algorithm when creating this altcoin.

While no one still knows who is behind the Satoshi Nakamoto name, a research document suggests that the Monero cryptocurrency might have been created by the same person who created Bitcoin.

As you probably know if you are reading our cryptocurrency news, Monero is a cryptocurrency that came out in 2014 to address the Bitcoin privacy issues. Even though the former uses a public ledger, no one can trace transactions on it. This makes XMR the most used coin among dark web users, too.

Monero’s whitepaper was published on December 12, 2012. This is three years after Bitcoin’s genesis block. The author of this whitepaper is Nicolas van Saberhagen and as you might guess, this is another pseudonym which might be showing that the Bitcoin founder also created Monero (XMR).

The truth is, no one knows who created Monero (XMR). According to outreach, the pseudonyms Satoshi Nakamoto and Nicolas van Saberhagen are the same entities. The main argument provided by the research authors is that Nakamoto had a clear motive to release the CryptoNote whitepaper, which is the document laying out the Monero concept.

In a BitcoinTalk forum post from August 2010, Nakamoto shared the first concepts of privacy that would later show up in Monero’s whitepaper. These include stealth addresses and ring signatures, hiding receivers and senders of XMR.

Besides this, when CryptoNote 1.0 came out, Nakamoto had already observed Bitcoin’s block size changes as well as the mining reward halving. Monero’s blockchain addresses those issues, and it also improved the proof-of-work to make mining more available to anyone using typical GPUs.

Some similarities are visible with the naked eye now. For instance, both whitepapers used the spelling of “favour/favourable” and the contraction “can’t” instead of the typical style observed in academically formatted papers. This may indicate that the Bitcoin founder also created Monero (XMR) in the first place.

Currently, both XMR and BTC are gaining from the market changes and could be surging in the coming days as well.