https://paragraph.com/@magickey undefined Fri, 22 May 2026 03:23:10 GMT https://validator.w3.org/feed/docs/rss2.html https://github.com/jpmonette/feed en https://storage.googleapis.com/papyrus_images/ac9c9e2ba1df97da8ed4d28f167a196295080f04d3f674a5f56c3f906937f53d.png https://paragraph.com/@magickey All rights reserved https://paragraph.com/@magickey/bitcoin-a-peer-to-peer-electronic-cash-system-3 byPGcV1qfRfoX5klnr6s Mon, 24 Jan 2022 02:00:10 GMT 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.

]]> magickey@newsletter.paragraph.com (Magickey) https://paragraph.com/@magickey/bitcoin-a-peer-to-peer-electronic-cash-system-2 2CfakDjLrPLSgSbiXaHO Fri, 21 Jan 2022 12:43:10 GMT 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.

]]> magickey@newsletter.paragraph.com (Magickey) https://paragraph.com/@magickey/bitcoin-a-peer-to-peer-electronic-cash-system 6AEOi2sSbnA5qhbWPROP Fri, 21 Jan 2022 11:59:50 GMT 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.

]]> magickey@newsletter.paragraph.com (Magickey)