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Laszlo Hanyecs Claims Satoshi Invented GPU Mining To Prevent 51% Attacks

Satoshi Nakamoto, the legendary mystery figure behind Bitcoin, had apparently pre-invented GPU mining before it became relevant within the network. According to Laszlo Hanyecz, an early Bitcoin developer who worked with the Bitcoin creator back in 2010, this was in order to help prevent 51% attacks.

Hayecz: Satoshi Had Several GPU Mining Protocols

Hanyecz stands as a famous figure within Bitcoin for having finished the first real-world transaction of Bitcoin in history. While the man is also credited for the invention of GPU mining for Bitcoin, a recent interview has shown that it was, in fact, the enigmatic father of Bitcoin that had come up with it before him. In fact, Hanyecz explained that Satoshi had several iterations of the algorithm ready and waiting.

As Hanyecz explained it, one of the first emails Satoshi had sent the man was in response to him describing his proposed GPU miner. Mainly, Satoshi was none-too-pleased, asking Hanyecz to slow down with this. In the statement, Satoshi stated that he didn’t care if people hoarded Bitcoin, or whether or not the wealth gets concentrated. However, Satoshi explained that, at the time, one of the biggest attractions possible is the fact that anyone can download Bitcoin and start mining with their laptops. Without that, it wouldn’t have gained as much traction.

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Keeping A Card Up His Sleeve

Haneycz explained that he is convinced that Satoshi knew that the Bitcoin mining space would become the massive industry that it is now. However, Haneycz also believes that the figure wanted to delay this as long as possible. He believes this was done as to not to hamper the adoption of the coin, to begin with. Hanyecz replied to Satoshi with an apology for “creeping up” on his project, to which Satoshi simply asked him to let the post thread die out.

In another occasion, however, Hanyecz emailed his GPU miner code to Satoshi, to which Satoshi shared with him his own version of the code. According to Hanyecz, Satoshi had prepared this version of the code as a countermeasure, should the man need to defend against an attack on his network. Hanyecz believed that Satoshi was very afraid of this happening, especially in the early days.

Scared Of Overreaching In The Early days

Hanyecz explained that Satoshi held several iterations of the code, but Hanyecz claimed that his code proved better than Satoshi’s. He said that Satoshi didn’t want to prematurely optimize the mining process, as he didn’t want to ramp up the difficulty of the network prematurely.

It seems the great Satoshi Nakamoto had made plans for all eventualities. One must sit and wonder what Satoshi thinks about the network right now, and how he views the crypto mining giants that are currently dominating the market at large.

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      A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.