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uralcryptocoin
Sr. Member
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Activity: 1042
Merit: 328
SIGNATURE CREATION by uralcryptocoin
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August 15, 2018, 05:34:42 PM |
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Bitcointalk name: uralcryptocoin
Rank: Sr. Member
Current post count: 568
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BTC Bitcoin: A Peer-to-Peer Electronic Cash System BTC
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. |
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heezay
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Activity: 420
Merit: 0
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August 15, 2018, 05:58:23 PM |
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vinaybit0007
Newbie
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Activity: 65
Merit: 0
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August 15, 2018, 06:40:22 PM |
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Bitcointalk name: vinaybit0007
Facebook Profile Link :https://www.facebook.com/vinaybit000
Bitcointalk name: vinaybit0007
Twitter Profile Link :https://twitter.com/vinaybit0007
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Illich
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Activity: 126
Merit: 0
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August 16, 2018, 06:38:46 AM |
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LRoss
Newbie
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Activity: 54
Merit: 0
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August 16, 2018, 06:40:56 AM
Last edit: August 19, 2018, 08:32:55 AM by LRoss |
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Den_mike
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August 16, 2018, 12:49:19 PM
Last edit: August 17, 2018, 08:56:07 AM by Den_mike |
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Den_mike
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August 16, 2018, 12:57:05 PM
Last edit: August 18, 2018, 08:55:02 AM by Den_mike |
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