Who is Wai Dai?

Who is Wai Dai?

Wai Dai is a familiar name in the crypto industry from Satoshi Nakamoto's white paper that discussed the concept of B-Money. So who is Wai Dai?

Wai Dai is a Chinese computer engineer who came up with the idea. Cryptocurrencies and cryptography, and members of the Cypherpunk group developed the free Crypto++ library. There are various encryption schemes, the B-Money system and a mechanism for verifying VMAC messages.

He holds a bachelor's degree in computer science from the University of Washington and began his career as a programmer in Computer Science. TerraSciences, an Acton, Massachusetts company Its mission is to develop solutions for securing control stations for the oil and gas industry. Later, he began working at the Cryptography Research Group Company Microsoft in Washington state. During his time at Microsoft, he participated in the study, design, and implementation of cryptographic systems for specialized applications. At the time he registered patents 5724279 y 6081598. Both patents were aimed at optimizing encryption algorithms within Microsoft's technology portfolio.

B-Money, the beginning of digital currency

In 1998, Wai Dai proposed a design concept. Dai published it on the Cypherpunks mailing list in November 1998, where he described two methods of use.

1. Use Proof of Work (PoW) as a tool to create money by using Hachcash to mine for B-Money. The design of the first protocol was impractical. This is because synchronous channels are required.

2.Using a subset of servers that maintain accounts These servers must publish, manage, and verify transaction data. For its part, participants who make transactions check their balance through the network. In addition, the system preserves the possibility of checking that inflation is not abused. which is similar to the Proof of Participation (PoS) system

refer

http://www.weidai.com/

https://academy.bit2me.com/en/quien-es-wei-dai/

https://www.thecoinrepublic.com/2022/06/13/was-b-money-proposed-by-wei-dai-really-influenced-bitcoin-or-was-it-a-deception/