Since his childhood, Adam Back, the current CEO of Blockstream, spent his time tinkering with the programming code to find the encryption keys built into the software. Born in 1970, the Londoner completed his studies in mathematics, physics and economics before focusing on computing and earning a PhD at the University of Exeter. After devoting his career to applied cryptography, Back invented HashCash in 1997, a proof-of-work system used to limit email spam and denial-of-service attacks that later became better known for its use in Bitcoin. In fact, Back was one of the few people quoted in the original Bitcoin white paper.
Back currently runs his Victoria, Canada-based digital asset custody company Blockstream, which raised $210 million in a Series B round last August. During an interview with Cointelegraph journalist Joseph Hall, Back explained that what fascinated him so much about Bitcoin in the beginning was its fertile ground for a lot of applied research and development. “It covers many subjects between layers or people, such as mathematics, computer science and programming,” he said.
When asked what advice he could give to the new generation of Gen Zs and Boomers who are approaching Bitcoin alike, Back suggested getting to know the people in the industry first. “I think the best way to get involved is to try to contribute something as a volunteer, because you learn things when you interact with people. There can be many different things, like the user interface, documentation, or educational materials.”
The 52-year-old cryptographer is also exploring new physical limits to the use of Bitcoin, literally. For a few years, Back has operated the Blockstream satellite network, which transmits the entire Bitcoin blockchain around the world 24 hours a day through its rented satellites. “You could sync a node from scratch over the satellite; it would take a week or two,” he said, continuing, “but it also actually retrieves all the history and reassembles it. And it’s a very interesting type of technology in terms of correctness. of errors and redundancy”. According to Blockstream, the setup can “protect against network outages” and “provide areas without reliable internet connections with access to Bitcoin.” Although, to have the privilege of not needing internet to use Bitcoin, a satellite kit would be needed to be able to receive the transmissions.
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