File Size: 10.18 Mb
Description
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.
Content:-
FACULTY AND AUTHOR BIOGRAPHIES
SPONSORS
SECTION A: TECHNOLOGY PRIMER FIRESIDE CHAT
1. Bitcoin: A Peer-to-Peer Electronic Cash System
SECTION B: REGULATORY DEVELOPMENTS
1. OCC’s New Special-Purpose Charter: Business Opportunities and Challenges for Fintech and Beyond (Presentation Slides)
SECTION C: BLOCKCHAIN INNOVATION AND OPPORTUNITY
1. Office of the Comptroller of the Currency Issues Draft Licensing Manual
Supplement for FinTech Companies
2. DFS Issues Updated Proposed Cybersecurity Regulations
3. Online Resources
SECTION D: INTELLECTUAL PROPERTY ISSUES
1. Is a Blockchain Patent Still Possible?
2. The Bitcoin Patent – Only a Matter of Time?
3. Online Resources
SECTION E: ENFORCEMENT ACTIONS
1. A Securities Law Framework for Blockchain Tokens
2. Coinbase Memos of Law
You May Also Like These E-Books:-
No comments:
Post a Comment