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The Bitcoin network was launched in 2009 by the mysterious Satoshi Nakamoto, a developer who worked extensively on the project but only interacted with people on developer forums. At the end of 2010, Nakamoto disappeared from view, announcing his departure and handing off the project to the open source community. No one knows his (or her) true identity, but what is known is Nakamoto's wealth. He is said to have roughly 100m worth of bitcoins by today's value, and hasn't spent any of it. Bitcoin's decentralised financial network is not immune to attack. It has already been subject to attacks on numerous occasions, and is in danger of experiencing more. While the concept behind the crypto-currency is designed to minimise interference, both researchers and criminals have found ways to subvert it. Danny Bradbury explores some of the vulnerabilities surrounding this alternative to conventional fiat currency, and describes some of the changes being made to ensure it remains secure and stable.
Danny Bradbury (Fri,) studied this question.