Bitcoin: A Peer-to-Peer Electronic Cash System. Satoshi Nakamoto. 2009

9개월 전

Abstract

A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. We propose a solution to the double-spending problem using a peer-to-peer network. The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work. The longest chain not only serves as proof of the sequence of events witnessed, but proof that it came from the largest pool of CPU power. As long as a majority of CPU power is controlled by nodes that are not cooperating to attack the network, they'll generate the longest chain and outpace attackers. The network itself requires minimal structure. Messages are broadcast on a best effort basis, and nodes can leave and rejoin the network at will, accepting the longest proof-of-work chain as proof of what happened while they were gone.

bitcoin-1.png

bitcoin-2.png

bitcoin-3.png

bitcoin-4.png

bitcoin-5.png

bitcoin-6.png

bitcoin-7.png

bitcoin-8.png

bitcoin-9.png

References

[1] W. Dai, "b-money," http://www.weidai.com/bmoney.txt, 1998.
[2] H. Massias, X.S. Avila, and J.-J. Quisquater, "Design of a secure timestamping service with minimal
trust requirements," In 20th Symposium on Information Theory in the Benelux , May 1999.
[3] S. Haber, W.S. Stornetta, "How to time-stamp a digital document," In Journal of Cryptology , vol 3, no
2, pages 99-111, 1991.
[4] D. Bayer, S. Haber, W.S. Stornetta, "Improving the efficiency and reliability of digital time-stamping,"
In Sequences II: Methods in Communication, Security and Computer Science , pages 329-334, 1993.
[5] S. Haber, W.S. Stornetta, "Secure names for bit-strings," In Proceedings of the 4th ACM Conference
on Computer and Communications Security , pages 28-35, April 1997.
[6] A. Back, "Hashcash - a denial of service counter-measure,"
http://www.hashcash.org/papers/hashcash.pdf, 2002.
[7] R.C. Merkle, "Protocols for public key cryptosystems," In Proc. 1980 Symposium on Security and
Privacy , IEEE Computer Society, pages 122-133, April 1980.
[8] W. Feller, "An introduction to probability theory and its applications," 1957.

Source: https://bitcoin.org/bitcoin.pdf
Source: https://nakamotoinstitute.org/literature/bitcoin/
https://creativecommons.org/licenses/by-sa/4.0/

Blockchain-Library-Logo2-resized.png

The Blockchain Library’s goals are twofold: to provide easy access to resources on cryptocurrency research for scholars, academics, analysts, and anyone with an interest in cryptocurrency publications; the second is provide an archive and historical timeline on the development of the blockchain field and to document the journey of its growth.

https://blockchainlibrary.org/

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
STEEMKR.COM IS SPONSORED BY
ADVERTISEMENT
Sort Order:  trending

This post has received a 25.00% upvote from @aiyanna!

This is an extra way we have decided to give back and award serious bloggers!
Feel free to leave a comment or suggestion to improve the efforts of this bot. Delegation and donations will be used to increase steem power.

·

Limited Promotion! Use both @t50 and @hybridbot for a chance of receiving extra upvotes!

You got a 11.40% upvote from @t50 courtesy of @shakailove!

Anyone can use this service by sending a minimum of 0.010 SBD or STEEM to @t50 with the post you want upvoted as the memo.

Consider investing Steem Power to receive daily payouts from bot income.
10 SP, 25 SP, 50 SP, 75 SP, 100 SP, 125 SP, 150 SP, 200 SP, 250 SP, 300 SP, 350 SP, 400 SP, 450 SP, 500 SP, 600 SP, 700 SP, 800 SP, 900 SP, 1000 SP or use the delegation manager. At any time you can get your investment back by undelegating.

Partners

@upfundme and #upfundme
TASKMANAGER bitshares token
@hybridbot - bid/membership hybrid bot (0.010 SBD minimum)
@memearmy meme support community bot

·

You got a 17.70% upvote from @steembloggers courtesy of @shakailove!

Trying a new approach to archiving with PNG image files per page, with the PDF stored on the Steem and IPFS blockchains.

·

Abstract and references are included as text markup, as well as source and license.

Hi, my name is @amayahaley21 and this post has receive a 15.00% upvote. If you would like for me to visit your posts you can delegate 100+ steempower to me and I will visit your posts until you remove your delegation. You can also donate 2+ steem to me and I will visit your posts for 30-days. All Steem earned will be used to help me grow!

This post has received a 15.00% upvote from @teevmoore!

This post has received a 1.04 % upvote from @drotto thanks to: @blockchainlib.