And then in early , Satoshi stepped away from what he had created. His parting words in an email were that he had "moved on to other things". But with online shops, banks and payment processors starting to accept them they steadily gathered value. As more coins were mined, more shops accepted them, and as the profound possibilities of the Bitcoin system became apparent, the frenzy around Satoshi's real identity has grown. Both strongly denied being Satoshi. All three denied it. Craig Wright said the pseudonym he adopted is derived from two sources.
The first name, Satoshi, is from Japanese Manga comics but he has not said which character or series it draws on.
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The second name is taken from an obscure 18th century Japanese philosopher Tominaga Nakamoto who stood at odds with the views of his time. Mr Wright said he has some sympathy with Nakamoto's outlook on life. Speculation then cooled for a while until when the name of Japanese mathematician Shinichi Mochizuki was put forward as a candidate.
He too said he was not Satoshi. The same year saw a flurry of articles and papers all naming different people as candidates. All denied it. A claim was put forward for Ross Ulbricht, creator of the Silk Road drug-selling website, as a potential Satoshi. This claim was later retracted.
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In December , a blogger analysed the writing styles of many crypto-coin related academic papers in a bid to work out who might have written the early Bitcoin documents. He said this evidence pointed to computer scientist and cryptographer Nick Szabo as a potential candidate. A physicist by training, Mr Nakamoto had also worked on computer finance and classified defence projects. The story led some media outlets to camp outside Mr Nakamoto's house and then pursue him in a car chase when he declined to answer questions. The feverish interest provoked the real Satoshi to intervene.
He declared in an email sent from an account known to be connected to him: "I am not Dorian Nakamoto. Vladimir Nosov : I think the rally was long overdue. The stage has been set for wild price swing ever since investors and miners began to hold on to their stash despite the unimpressive short-term effects of Bitcoin halving. Subsequently, a string of events and developments made sure that a price uptrend was never in doubt. There was an increase in the market visibility of DeFi tokens, institutional investors began to ditch traditional assets for the more inflation-resistant Bitcoin, and regulators in the US greenlighted bank-enabled crypto custodial services.
All these factors will have long-term effects on the price of Bitcoin, which is why the crypto community is excited about the coming months. Andrey Sergeenkov: What does the increase in institutional traders mean for the crypto market at large? Vladimir Nosov: This is an interesting development as it further establishes the validity of the crypto market. For as long as I can remember, the crypto space has been compared to a giant bubble waiting to pop.
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As such, the influx of institutional traders and investors give credence to the crypto movement and forces regulators to put more effort into addressing the regulatory debacles frustrating mainstream adoption. Andrey Sergeenkov: Do you think that the increased involvement of institutional investors diminishes the influence of whales on price movements?
Vladimir Nosov: Yes, I do. It is common knowledge that the actions and inactions of whales often cause the price of crypto assets to swing wildly. In some cases, these entities try to capitalize on their market position and influence prices in their favor. However, with the advent of institutional trading, whales-inspired price fluctuations will become less frequent.
This shows that the market is maturing.
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Andrey Sergeenkov: What are your thoughts on the added pressure this development imposes on crypto exchanges? Vladimir Nosov: Well, this is what the industry has always wanted. Mainstream adoption hinged on the capacity of crypto technology to attract institutional entities. Now that we are on the verge of achieving this goal, we should not be complaining about the challenges that come with it. I see this pressure as a good thing because it pushes us to improve our operations and develop more sophisticated trading systems.
Andrey Sergeenkov: How has the crypto exchange landscape adapted to the sharp rise in institutional trading?
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Vladimir Nosov: Like I said earlier, it is advantageous to the crypto exchange sector. I believe that the influx of institutional engagements has kicked off new development cycles and increased competition.
The trading infrastructures we have today are much better than what we had before. I expect these improvements to continue as more institutional traders enter the crypto landscape. Vladimir Nosov: WhiteBIT prides itself as a hub of blockchain experts working together to enable a conducive healthy trading environment for crypto traders. The team currently consists of more than blockchain specialists, with 65 of them having middle or senior level experience as a developer. And so, we have a pool of innovative minds ensuring that our trading infrastructure is flexible enough to meet the needs of retail and institutional traders.
Hence, adapting has never been an issue. Andrey Sergeenkov: Experts believe that security, speed, and compliance are three core challenges that could limit the increase in institutional interest in crypto assets. How true is this? Vladimir Nosov: Institutional traders are currently looking to engage in high-frequency trading. Therefore, speed is one of the core criteria used to judge the suitability of exchanges. The same goes for compliance and security.
And since a majority of trading platforms find it hard to establish a platform insusceptible to this three-pronged issue, there is more work to be done. Fortunately, exchanges like WhiteBIT have found a balance between enabling high security, providing speed, and implementing industry standards. This proves that it is possible to create an exchange infrastructure suitable for institutional trading.
We have a community of , traders, with 35, of them engaging with the platform actively. Also, WhiteBIT prioritizes the incorporation of high liquidity fiat and cryptocurrencies pairs. Besides, our trading and matching engines are built with innovative technologies to provide instant deposits and withdrawals as well as fast order book performance.
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Andrey Sergeenkov: What about security? What are the measures taken to ensure that your systems are unsusceptible to attacks? We have combined bank-grade security systems and in-house developed tools to ensure that our platform is safe and resistant to attacks. With all these, we can guarantee a secure exchange facility for both retail and institutional traders. Andrey Sergeenkov: Compliance is a bit of a daunting task considering the nonuniformity of regulators' approach to cryptocurrency.