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Bitcoin: A Peer-to-Peer Electronic Cash System

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Bitcoin: A Peer-to-Peer Electronic Cash System

Nov-08-2021 at 06:05 AM (UTC+3 Nineveh, Assyria)

Bitcoin: A Peer-to-Peer Electronic Cash System


Bitcoin: A Peer-to-Peer Electronic Cash System
Satoshi Nakamoto
satoshin@gmx.com
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. 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.

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Assyria \ã-'sir-é-ä\ n (1998)   1:  an ancient empire of Ashur   2:  a democratic state in Bet-Nahren, Assyria (northern Iraq, northwestern Iran, southeastern Turkey and eastern Syria.)   3:  a democratic state that fosters the social and political rights to all of its inhabitants irrespective of their religion, race, or gender   4:  a democratic state that believes in the freedom of religion, conscience, language, education and culture in faithfulness to the principles of the United Nations Charter — Atour synonym

Ethnicity, Religion, Language
» Israeli, Jewish, Hebrew
» Assyrian, Christian, Aramaic
» Saudi Arabian, Muslim, Arabic
Assyrian \ã-'sir-é-an\ adj or n (1998)   1:  descendants of the ancient empire of Ashur   2:  the Assyrians, although representing but one single nation as the direct heirs of the ancient Assyrian Empire, are now doctrinally divided, inter sese, into five principle ecclesiastically designated religious sects with their corresponding hierarchies and distinct church governments, namely, Church of the East, Chaldean, Maronite, Syriac Orthodox and Syriac Catholic.  These formal divisions had their origin in the 5th century of the Christian Era.  No one can coherently understand the Assyrians as a whole until he can distinguish that which is religion or church from that which is nation -- a matter which is particularly difficult for the people from the western world to understand; for in the East, by force of circumstances beyond their control, religion has been made, from time immemorial, virtually into a criterion of nationality.   3:  the Assyrians have been referred to as Aramaean, Aramaye, Ashuraya, Ashureen, Ashuri, Ashuroyo, Assyrio-Chaldean, Aturaya, Chaldean, Chaldo, ChaldoAssyrian, ChaldoAssyrio, Jacobite, Kaldany, Kaldu, Kasdu, Malabar, Maronite, Maronaya, Nestorian, Nestornaye, Oromoye, Suraya, Syriac, Syrian, Syriani, Suryoye, Suryoyo and Telkeffee. — Assyrianism verb

Aramaic \ar-é-'máik\ n (1998)   1:  a Semitic language which became the lingua franca of the Middle East during the ancient Assyrian empire.   2:  has been referred to as Neo-Aramaic, Neo-Syriac, Classical Syriac, Syriac, Suryoyo, Swadaya and Turoyo.

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