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…
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The market for digital assets has evolved dramatically since the release of Satoshi Nakamoto’s Bitcoin white paper nearly ten years ago. From Bitcoin’s origins as a peer-to-peer system of value transfer to the development of smart contracts and countless other blockchain applications, cryptography-based digital assets have become one of the most disruptive and revolutionary technologies…
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In this article, we give a short introduction to cryptocurrencies and blockchain technology. The focus of the introduction is on Bitcoin, but many elements are shared by other blockchain implementations and alternative cryptoassets. The article covers the original idea and motivation, the mode of operation and possible applications of cryptocurrencies, and blockchain technology. We conclude…
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