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 21:06:02Event JSON
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"pubkey": "5cee869cb84d2ff28e5e83c9bff124a9db0285edf430d971b3c132752014b07a",
"created_at": 1680642362,
"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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}
