QuotableSatoshi 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
2025-02-03 12:21:02Event JSON
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"pubkey": "87570647ca3b7549e66cb6c4bb8d197f5bc91de73b58eb1ade78c8ddd5fec7eb",
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"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.",
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}
