• Corpus ID: 236214795

Bitcoin: A Peer-to-Peer Electronic Cash System

@inproceedings{Nakamoto2008BitcoinAP,
  title={Bitcoin: A Peer-to-Peer Electronic Cash System},
  author={Satoshi Nakamoto},
  year={2008}
}
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… 

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