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bitcoin.pdf
Nakamoto combined several prior inventions such as digital signatures and Hashcash to create a completely decentralized electronic cash system that does not rely on a central authority for currency issuance or settlement and validation of transactions. A key innovation was to use a distributed computation system (called a “proof-of-work” algorithm)
... See moreDavid A. Harding • Mastering Bitcoin
Bitcoin was first described in 2008 with the publication of a paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System,”1 written under the alias of Satoshi Nakamoto
David A. Harding • Mastering Bitcoin
Every transaction has to be recorded by every member of the network so that they all share one common ledger of balances and transactions. Whenever a member of the network transfers a sum to another member, all network members can verify the sender has a sufficient balance, and nodes compete to be the first to update the ledger with a new block of
... See moreSaifedean Ammous • The Bitcoin Standard: The Decentralized Alternative to Central Banking
the original Bitcoin whitepaper describes a system where bitcoins were received to public keys (pubkeys) and spent with signatures (sigs). The public key defined who was authorized to spend the bitcoins (whoever controlled the corresponding private key) and the signature provided authentication that the spending transaction came from someone who co
... See moreDavid A. Harding • Mastering Bitcoin
The Cypherpunks used their mailing list to document various attempts at building an electronic coin network. This included “e-gold,” in 1996; an anti-spam proof-of-work algorithm called Hashcash by Adam Back; an anonymous proof-of-stake electronic cash network in 1998; and Bit Gold, a proof-of-work string of cryptographic hashes by Nick Szabo in 20... See more
Friends with Benefits (FWB) • A Political History of DAOs
Pawan Rochwani added
This presented the idea of Bitcoin, a “peer-to-peer electronic cash” representing the first public, permissionless, cryptographically secure peer-to-peer protocol.
Friends with Benefits (FWB) • A Political History of DAOs
Pawan Rochwani added
After years of innovative trial and error by many programmers, and through relying on a wide range of technologies, Bitcoin was the first engineering solution that allowed for digital payments without having to rely on a trusted third‐party intermediary. By being the first digital object that is verifiably scarce, Bitcoin is the first example of di
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