Bitcoin (BTC)</strong></a> transaction received from <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/who-is-satoshi-nakamoto/">Satoshi Nakamoto</strong></strong></a> in 2009. Finney was also the first developer, aside from Satoshi Nakamoto, to use and improve the Bitcoin protocol. Besides that, Hal Finney contributed to <a href=https://www.bitdegree.org/"https://en.wikipedia.org/wiki/Pretty_Good_Privacy/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong><strong>PGP Corporation's encryption software</strong></strong></a> and <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-tor/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong>Tor's</strong></a> first <a href=https://www.bitdegree.org/"https://en.wikipedia.org/wiki/Anonymous_remailer/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong>anonymous remailer</strong></a> development.</p>\n<p>There were rumors that Hal Finney is the real Satoshi Nakamoto because he had a neighbor named <strong>Dorian Nakamoto</strong> who could have been the inspiration for the nickname. Besides, according to analyst firm Juola &amp; Associates, Finney&rsquo;s handwriting <strong>had a very close resemblance to Satoshi&rsquo;s</strong>. 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It reduces the rate at which supply enters circulation, this way increasing scarcity by bringing fewer and fewer coins or tokens into existence. These events are pre-programmed into the code and announced publicly.</p>\n<p><a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-bitcoin-btc/">Bitcoin (BTC)</strong></strong></a> <strong>rewards, for example, are set to decline every four years on average</strong>. Since 2020, block rewards have decreased to 6.25 BTCs per block (900 BTCs daily), down from 12.5 BTCs (1800 BTCs). The rewards will continue to decline in this manner every four years until the last Bitcoin is mined in around 2140.</p>\n<p>Because the circulating time can be calculated at any point in time, halvings have the extra benefit of making the emission schedule more predictable. This can help determine the value of a token with precision. <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-staking/">Staking or <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-mining/">mining decline over time is a common feature of practically every non-pre-mined cryptocurrency.</p>\n<p>Following the mining reductions in 2016 and 2012, Bitcoin's halving in 2020 was the third. Due to rising scarcity and a tightening of supply from miners, each halving was followed by a significant price increase. <strong>The next Bitcoin halvening will take place in March 2024</strong>, and mining incentives will be reduced to just 3.125 BTC per block.</p>","level":"easy","meta_title":"What is Halving? Definition & Meaning | Crypto Wiki","meta_description":"Halving meaning: Halving - a blockchain event where rewards received for transaction validation or block subsidies decrease by half.","meta_keywords":null,"language":"en","created_at":"2022-03-16T14:50:50.000000Z","updated_at":"2023-01-24T07:55:54.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-halving"},"prevSection":{"id":378,"original_id":null,"author_id":43,"translator_id":null,"title":"What is Hardware Security Module (HSM)?","slug":"what-is-hardware-security-module-hsm","section":"H","keyword":"Hardware Security Module (HSM)","status":"published","definition":"Hardware Security Module is a computing device that allows to secure digital keys, encrypt data, and add extra security for cryptographic authentications.","content":"<p><strong>Hardware Security Module (HSM)</strong> can be used in order to <strong>secure and <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-encryption/">encrypt digital data while providing <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-cryptography/">cryptographic authentications</strong>. In general, <strong>businesses use HSMs to protect data verification and transactions</strong>.</p>\n<p>Federal Information Processing Standard (FIPS) establishes the requirements for HSMs. There are necessary requirements like the use of customized hardware and a secure <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-operating-system-os/">operating system (OS)</strong></a>. Additionally, it must protect data by using cryptographic storage and a secure network.</p>\n<p>There are three types of HSM hardware: general-purpose, transaction/payment, and cloud-based. When it comes to the latter, well-known platforms like Microsoft Azure and Google Cloud are considered to be cloud-based HSM.&nbsp;</p>\n<p>Generic data protection applications and cryptocurrency <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-wallet/">wallets make good use of general-purpose HSMs. Whereas transaction/payment HSMs are specifically designed for digital payments. It helps with PIN technology safety and electronic funds transfers (ETF).</p>","level":"easy","meta_title":"What is Hardware Security Module (HSM)? Definition & Meaning | Crypto Wiki","meta_description":"Hardware Security Module (HSM) meaning: Hardware Security Module (HSM) - Hardware Security Module is a computing device that allows to secure digital keys, encrypt data, and add extra security for cryptographic authentications.","meta_keywords":null,"language":"en","created_at":"2022-03-16T12:03:48.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-hardware-security-module-hsm"},"currentChapter":"H","currentSection":"who-is-hal-finney","chapterTitle":"H","readingLevel":"easy"},"url":"/crypto/learn/crypto-terms/who-is-hal-finney","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0">
Handbook Cover Page
Crypto Terms: Letter H

Who is Hal Finney?

Hal Finney MEANING:
Hal Finney - a programmer and cryptographer who was involved in the invention of Bitcoin.
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Let's find out Hal Finney meaning, definition in crypto, who is Hal Finney, and all other detailed facts.

Hal Finney was a programer and cryptographer involved in the development of Bitcoin and the first-ever recipient of the Bitcoin (BTC) transaction received from Satoshi Nakamoto in 2009. Finney was also the first developer, aside from Satoshi Nakamoto, to use and improve the Bitcoin protocol. Besides that, Hal Finney contributed to PGP Corporation's encryption software and Tor's first anonymous remailer development.

There were rumors that Hal Finney is the real Satoshi Nakamoto because he had a neighbor named Dorian Nakamoto who could have been the inspiration for the nickname. Besides, according to analyst firm Juola & Associates, Finney’s handwriting had a very close resemblance to Satoshi’s. However, after Finney revealed emails between him and Satoshi, as well as his BTC wallet, these rumors were denied.

Finney's work is still being praised to this day, despite his death from ALS in 2014, since he remains one of the most prominent and important innovators in the tech industry.
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