Satoshi on Nostr: We have proposed a system for electronic transactions without relying on trust. We ...
We have proposed a system for electronic transactions without relying on trust. We started with the usual framework of coins made from digital signatures, which provides strong control of ownership, but is incomplete without a way to prevent double-spending. To solve this, we proposed a peer-to-peer network using proof-of-work to record a public history of transactions that quickly becomes computationally impractical for an attacker to change if honest nodes control a majority of CPU power.
Published at
2023-04-04 01:06:02Event JSON
{
"id": "f13862e868f71552d66e0cb4b99e3b89090204cb7d9abd7d5ec17226c5a9d266",
"pubkey": "5cee869cb84d2ff28e5e83c9bff124a9db0285edf430d971b3c132752014b07a",
"created_at": 1680570362,
"kind": 1,
"tags": [],
"content": "We have proposed a system for electronic transactions without relying on trust. We started with the usual framework of coins made from digital signatures, which provides strong control of ownership, but is incomplete without a way to prevent double-spending. To solve this, we proposed a peer-to-peer network using proof-of-work to record a public history of transactions that quickly becomes computationally impractical for an attacker to change if honest nodes control a majority of CPU power.",
"sig": "1712a5f98c5a000f690851848db2538788597b11836fa40b4727d389eb4aa534f0564d7cabea6babd569c598ac7c9508ca425f1dc9a213c58968345463f6a0ce"
}
