It’s been a lifetime of hacks for Dr. Adam Back, CEO and co-founder of Blockstream. Back is one of the few people quoted in the Bitcoin White Paper, and the best moments of his life as a hacker are brought to life in the latest animated Crypto Story from the Cointelegraph video team.
During a game of Jenga in a park, Back told Cointelegraph that he has always had a “sort of security mindset.” Since his student days, he tinkered with door codes, pin pads, and locks, trying codes and gaining access to places he “wasn’t supposed to have access to.”
Back talks about the creation of Hash Cash, one of the first attempts at digital money. He uses the “birthday collision” as an allegory for hash functions, demonstrating his aptitude for decomposing complex functions into intelligible language:
“If you have a room full of people at a party or something, there’s a question which is how many people have to be in the room for there to be a 50/50 chance of two people having the same birthday.”
He explains that although people would expect the result to be related to the number 365, because of the number of days in a year, the reality is much less. This line of thinking, combined with an understanding of spam email, led Back to code Hash Cash.
Bitcoin sits on the shoulders of Hash Cash, but Bitcoin caught on because Bitcoin has a high level of decentralization, vital to the success of the cryptocurrency. Back adds that Bitcoin is also “understandable on a lot of different levels, right?”
“You can understand it from a user point of view or from an economic point of view. It’s surprisingly complex to fully appreciate it, including game theory and things like that.”
The cartoon interview concludes with a reference to Blockstream’s decision to transport Bitcoin into space and the claim that there will be “more Bitcoin” from one of the pioneers of the Bitcoin economy.
Clarification: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information presented here should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
Investments in crypto assets are not regulated. They may not be suitable for retail investors and the entire amount invested may be lost. The services or products offered are not directed or accessible to investors in Spain.