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- 1 Adam Back is a cryptographer of British Nationality and the founder and CEO of Blockstream, the blockchain technology.
- 2 He invented Hashcash, which is a hash-based Proof-of-Work algorithm and is used for the mining of Bitcoin.
Adam Back is an important name in the field of cryptocurrency and blockchain technology. He was born in July 1970, in London, England. He completed his A levels in advanced mathematics, economics, and computer science. He has also completed his Ph.D. in computer science distributed systems from the University of Exeter.
He is interested in making parallel computers work in a semi-automated way so he worked with compilers to make it possible. He has a huge interest in encryption and has engaged his two-third time working with encryption. After graduation, Adam started his career in consulting start-ups and larger companies in applied cryptography, designing, and reviewing.
Later, Adam Back was appointed as the CEO of Blockstream. He has also made products such as Blockstream Mining Notes, Liquid Sidechain, the Jade Hardware Wallet, and the Core Lightening Implementation.
The major upgrades in Blockstream include a satellite network and work to expand its Liquid Sidechain Ecosystem. The first Javascript library in Liquid Network allows external developers to create a strong environment for the project. A decentralised exchange built on the Liquid Network opened for early access in September.
Work Experience of Adam Back
Back is a Consultant and Owner of Cyberspace Internet Security since December 1997. He was Chief Info Sec Officer of EMC (Decho Corporation) from June 2008 to July 2010. Also, he was the Security Architect and Co-Founder of PI Corporation from December 2003 to July 2010.
He also worked as Cryptographic Consultant at GuardianEdge Technologies from 1992-2008. As a Security Architect, he worked at Microsoft Passport and Zero Knowledge Systems from December 2002-November 2003 and December 1999-November 2002, respectively. Also, he worked as a Research Assistant at Haldon House Research from 1998-1999.
In 1997, Back invented Hashcash. It is a Proof-of-Work system on Usenet groups that is used as an early spam control measure. It is the same system he used in Bitcoin. It is a security function for email, which also provides non-interactive advanced security. This is based on an advanced encryption scheme.
Even Satoshi Nakamoto, the founder of Bitcoin, wrote him a mail once. This shows how important he is to Bitcoin. The use of satellites and mesh networks is promoted by him.
Other Investments of Adam Back
Besides, he has also made three personal investments. He made an investment of $8.5 Million in Venture Round for Portal on September 21, 2021. Another investment is of $3.1 Million in an initial Coin Offering for Infinite Fleet on August 6, 2020. The third investment is of $3.1 Million in a private equity round for Pixelmaticon on August 3, 2020.
He is famous for his work on Bitcoin. He has worked to make Bitcoin easier and ready to use for its investors. Blockstream provides blockchain technology solutions. Its mission is to build a cryptographic financial infrastructure based on Bitcoin, the most secure blockchain.
Conclusion
Adam Back is a prominent figure in the field of cryptography and blockchain. As the CEO of Blocktream, he has played a significant role in advancing blockchain technology. His contributions and expertise have had a lasting impact on the development and adoption of cryptocurrencies and decentralised systems.
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
