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Satoshi Nakamoto, bitcoin: A Peer-to-Peer Electronic Cash System

Satoshi Nakamoto, bitcoin: A Peer-to-Peer Electronic Cash System
Related:  Bitcoin

bitcoin.it, Contracts A distributed contract is a method of using Bitcoin to form agreements with people via the block chain. Contracts don't make anything possible that was previously impossible, but rather, they allow you to solve common problems in a way that minimizes trust. Minimal trust often makes things more convenient by allowing human judgements to be taken out of the loop, thus allowing complete automation. By building low trust protocols that interact with Bitcoin, entirely new products can be created: Smart property is property that can be atomically traded and loaned via the block chain. Transferable virtual property are digital items that can be traded but not duplicated. This page also lists some smaller examples. Many of the ideas underlying Bitcoin contracts were first described by Nick Szabó in his seminal paper, Formalizing and Securing Relationships on Public Networks. A warning about the mempool transaction replacement mechanism Theory Each transaction input has a sequence number.

Bitcoin 2.0 Explained: Colored Coins Vs Mastercoin Vs Open Transactions Vs Protoshares While the entire world is beginning to learn about the power of the Bitcoin payment network, the real innovation behind this protocol is happening behind the scenes. There have been many different Bitcoin enthusiasts who have been talking about the holy grail of decentralized exchanges and using the Bitcoin protocol for more than just payments, and it seems that 2014 is going to be the year when we see these features finally get implemented into some real world applications. There are many different projects that are currently aiming to take Bitcoin to the next level, and it's likely that there won't be one clear winner when everything is said and done. Before we hop into the competition, let's take a closer look at exactly what these projects are trying to accomplish. Decentralizing the Internet Most people who learned about Bitcoin for the first time in 2013 look at it as nothing more than a currency, but the reality is that it's much more than that. Colored Coins Mastercoin Protoshares

wikipedia, Satoshi Nakamoto Satoshi Nakamoto (中本 哲史[1], Nakamoto Satoshi?) is a person or group of persons who created the Bitcoin protocol and reference software, Bitcoin Core. In 2008, Nakamoto published a paper[2][3] on The Cryptography Mailing list at metzdowd.com[4] describing the Bitcoin digital currency. Nakamoto is said to have continued to contribute to his Bitcoin software release with other developers until contact with his team and the community gradually began to fade in mid-2010. Nakamoto is believed to be in possession of roughly one million bitcoins. Identity[edit] On his P2P Foundation profile, Nakamoto claimed to be a 37-year-old male who lived in Japan, while others speculated he was unlikely to be Japanese due to his use of English and his Bitcoin software not being documented nor labelled in Japanese.[9] Notable suggested identities[edit] Many articles have been written about possible identities of Nakamoto. Nick Szabo[edit] Dorian Nakamoto[edit] Hal Finney[edit] See also[edit] History of Bitcoin

wikipedia, History of Bitcoin The price of a bitcoin reached previous all-time high of US$1124.76 on 29 November 2013, up from just US$13.36 on 5 January at the start of the year; the price subsequently dropped into the $700 range. Bitcoin is the first cryptocurrency, a form of money that uses cryptography to control its creation and management, rather than relying on central authorities.[1] However, not all of the technologies and concepts that make up Bitcoin are new; the presumed pseudonym Satoshi Nakamoto (the creator of Bitcoin, see below) integrated many existing ideas from the cypherpunk community when creating Bitcoin. Pre-history[edit] Independently and at around the same time Wei Dai proposed b-money [3] and Nick Szabo proposed bit-gold.[4] Subsequently Hal Finney implemented and deployed RPOW a reusable form of hashcash based on IBM secure TPM hardware and remote attestation (centralized but with no issuer inflation risk). Creation[edit] Growth[edit] In April, payment processors BitInstant and Mt.

wikipedia, Bitcoin Decentralized digital currency Bitcoin (abbreviation: BTC[a] or XBT[b]; sign: ₿) is a protocol which implements a highly available, public, permanent, and decentralized ledger. In order to add to the ledger, a user must prove they control an entry in the ledger. The Library of Congress reports that, as of November 2021, nine countries have fully banned bitcoin use, and a further forty-two have implicitly banned it.[15] A few governments have used bitcoin in some capacity. Bitcoin has been described as an economic bubble by at least eight recipients of the Nobel Memorial Prize in Economic Sciences.[17] Design Units and divisibility The unit of account of the bitcoin system is the bitcoin. Blockchain Data structure of blocks in the ledger Network nodes can validate transactions, add them to their copy of the ledger, and then broadcast these ledger additions to other nodes. Individual blocks, public addresses, and transactions within blocks can be examined using a blockchain explorer.[31] Mining

wikipedia: Remittance A remittance is a transfer of money by a foreign worker to an individual in his or her home country. Money sent home by migrants competes with international aid as some of the largest financial inflows to developing countries. In 2012, according to the World Bank Report, $401 billion went to developing countries (a new record) with overall global remittances at $514 billion.[1] The economic impact remains contested among researchers,[2][3] however, remittance transfers do draw people towards the financial services that are available to them.[citation needed] Significance[edit] Remittances are playing an increasingly large role in the economies of many countries, contributing to economic growth and to the livelihoods of less prosperous people (though generally not the poorest of the poor). The World Bank and the Bank for International Settlements have developed international standards for remittance services.[6] History[edit] Overview[edit] By region[edit] Asia[edit] Philippines[edit]

Cryptocurrency A cryptocurrency is a medium of exchange designed around securely exchanging information which is a process made possible by certain principles of cryptography. The first cryptocurrency to begin trading was Bitcoin in 2009. Since then, numerous cryptocurrencies have been created. Fundamentally, cryptocurrencies are specifications regarding the use of currency which seek to incorporate principles of cryptography to implement a distributed, decentralized and secure information economy. Overview[edit] When comparing cryptocurrencies to fiat money, the most notable difference is in how no group or individual may accelerate, stunt or in any other way significantly abuse the production of money. Most cryptocurrencies are designed to gradually introduce new units of currency, placing an ultimate cap on the total amount of currency that will ever be in circulation. History[edit] Proof-of-work schemes[edit] List of cryptocurrencies[edit] This is a list of cryptocurrencies. Notes[edit] Criticism[edit]

wikipedia, Bitcoin protocol The Bitcoin network is a peer-to-peer payment network that operates on a cryptographic protocol. Users send bitcoins, the unit of currency, by broadcasting digitally signed messages to the network using Bitcoin wallet software. Transactions are recorded into a distributed public database known as the block chain, with consensus achieved by a proof-of-work system called "mining". The network timestamps transactions by including them in blocks that form an ongoing chain called the block chain. The network itself requires minimal structure to share transactions. Transactions[edit] A bitcoin is defined by a sequence of digitally signed transactions that began with its creation as a block reward. A bitcoin is a currency object — an entity which is traded, though nothing prevents trades in fractions of, or multiple bitcoins. A diagram of a Bitcoin transfer. Transaction confirmation[edit] Transaction confirmation is needed to prevent double spending of the same money. Hashes and signatures[edit]

Satoshi Nakamoto, bitcoin.it Satoshi Nakamoto is the pseudonymous person or group of people who designed and created the original Bitcoin software, currently known as Bitcoin-Qt. His involvement in the original Bitcoin software does not appear to extend past mid-2010. Identity There are no records of Nakamoto's identity or identities prior to the creation of Bitcoin. On his P2P foundation profile, Nakamoto claimed to be an individual male at the age of 37 and living in Japan, which was met with great skepticism due to his use of English and his Bitcoin software not being documented nor labeled in Japanese. British formatting in his written work implies Nakamoto is of British origin. The first release of his original Bitcoin software is speculated to be of a collaborative effort, leading some to claim that Satoshi Nakamoto was a collective pseudonym for a group of people. Investigations into the real identity of Satoshi Nakamoto have been attempted by The New Yorker and Fast Company. Work Motives Influence

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