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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)

David A. Harding • Mastering Bitcoin

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 ... See more

Satoshi Nakamoto • bitcoin.pdf

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

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

Digital Gold

Nathaniel Popper

amazon.com

Satoshi Nakamoto's motivation for Bitcoin was to create a “purely peer‐to‐peer form of electronic cash” that would not require trust in third parties for transactions and whose supply cannot be altered by any other party. In other words, Bitcoin would bring the desirable features of physical cash (lack of intermediaries, finality of transactions) t

Saifedean Ammous • The Bitcoin Standard: The Decentralized Alternative to Central Banking

Satoshi Nakamoto’s invention is also a practical and novel solution to a problem in distributed computing, known as the “Byzantine Generals’ Problem.” Briefly, the problem consists of trying to get multiple participants without a leader to agree on a course of action by exchanging information over an unreliable and potentially compromised network.

David A. Harding • Mastering Bitcoin

This presented the idea of Bitcoin, a “peer-to-peer electronic cash” representing the first public, permissionless, cryptographically secure peer-to-peer protocol.