Bitcoin not crypto! Since some of you are new to the space.
The Bitcoin White paper
https://www.bitcoin.org
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.
The Bitcoin White paper
https://www.bitcoin.org
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.
Comments
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.
hash-based proof-of-work, forming a record that cannot be changed without redoing
the proof-of-work.
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 & outpace attackers.
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.