double-spend problem Concepts

The Code of Capital: How the Law Creates Wealth and Inequality

by Katharina Pistor · 27 May 2019 · 316pp · 117,228 words

proof of ownership.43 The “Bitcoin Manifesto,” published by the ominous Satoshi Nakamoto, explains that a key motivation for creating Bitcoin was to solve the “double-spending problem.”44 Yet, the ability to spend money one does not have is—for better or worse—the very essence of capitalism. Other forms of private

The Business Blockchain: Promise, Practice, and Application of the Next Internet Technology

by William Mougayar · 25 Apr 2016 · 161pp · 44,488 words

to another without going through a financial institution. A trusted third party is not 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

The Stack: On Software and Sovereignty

by Benjamin H. Bratton · 19 Feb 2016 · 903pp · 235,753 words

Added: # 240950 DM NOSLT WHL KRNL CR,” Cabinet, no. 47 (Fall 2012). 45. Aozaki's project is also a nice demonstration (and inversion) of the “double spend problem” that could plague any digital or networked currency: without discrete physical tokens that guarantee each unit of value is in only one place at a

Mastering Blockchain, Second Edition

by Imran Bashir · 28 Mar 2018

issues need to be addressed: accountability and anonymity. Accountability is required to ensure that cash is spendable only once (double-spend problem) and that it can only be spent by its rightful owner. Double spend problem arises when same money can be spent twice. As it is quite easy to make copies of digital data, this

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to transfer it. This feature has far-reaching implications, especially in DRM and electronic cash systems where double-spend detection is a crucial requirement. The double-spend problem was first solved without the requirement of a trusted third party in Bitcoin. Provider of security: The blockchain is based on proven cryptographic technology that

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difficulty makes the records on a blockchain essentially immutable. Uniqueness: This blockchain feature ensures that every transaction is unique and has not already been spent (double-spend problem). This feature is especially relevant with cryptocurrencies, where detection and avoidance of double spending are a vital requirement. Types of blockchain Based on the way

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. The key issue that has been addressed in Bitcoin is an elegant solution to the Byzantine Generals' Problem along with a practical solution of the double-spend problem. Recall, that both of these concepts are explained in Chapter 1, Blockchain 101. The value of bitcoin has increased significantly since 2011, and then since

The Future Is Faster Than You Think: How Converging Technologies Are Transforming Business, Industries, and Our Lives

by Peter H. Diamandis and Steven Kotler · 28 Jan 2020 · 501pp · 114,888 words

we can use ones and zeroes to replace dollars and cents, were first proposed in 1983. Yet the idea was stymied by the seemingly intractable “double-spending problem.” In a nutshell: If you have a dollar bill and give it to a friend, then your friend has the dollar bill. If you have

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, your computer stores the original and sends a copy. This is fine for exchanging letters, but it’s lousy for trading money. This is the double-spending problem and it’s exactly what bitcoin was designed to solve. Bitcoin appeared in 2008, when an online paper authored by a still-anonymous person (or

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—anyone can use it. Finally, the system is transparent because everyone on the network can see every transaction on the network—which is how the double-spend problem was actually solved. The real innovation, though, is how transactions are recorded in the ledger. In normal financial exchanges, when money is moved around, a

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as, 9 distributed autonomous organizations (DAOs), 103 distributed electric propulsion (DEP), 10 DNA, 65, 66–67 Domino’s Robotic Unit (DRU), 106 dopamine, 246–47 double-spending problem, 56, 57 Dracula myth, 178 Dragon TV, 33 Dreamscape, 135 Drexler, K. Eric, 63, 231 drones: disaster relief and, 48 increasing demand for, 10 package

Radical Technologies: The Design of Everyday Life

by Adam Greenfield · 29 May 2017 · 410pp · 119,823 words

money more than once, and nobody else would be any the wiser. This was a deep design issue the fintech cognoscenti referred to as “the double-spending problem,” and it had vexed all previous digital currencies. Finally, the mint and its ledger would constitute that thing a conscientious engineer most devoutly hopes to

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mathematics itself? What if that same technique that let you do so could all at once eliminate any requirement for a central mint, resolve the double-spending problem, and provide for irreversible transactions? And what if it could achieve all this while preserving, if not quite the anonymity of participants, something very nearly

Blockchain: Blueprint for a New Economy

by Melanie Swan · 22 Jan 2014 · 271pp · 52,814 words

of research in cryptography, by thousands of researchers around the world.13 Bitcoin is a solution to a long-standing issue with digital cash: the double-spend problem. Until blockchain cryptography, digital cash was, like any other digital asset, infinitely copiable (like our ability to save an email attachment any number of times

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or a quasibank like PayPal) in transactions, which kept a ledger confirming that each portion of digital cash was spent only once; this is the double-spend problem. A related computing challenge is the Byzantine Generals’ Problem, connoting the difficulty of multiple parties (generals) on the battlefield not trusting each other but needing

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to have some sort of coordinated communication mechanism.14 The blockchain solves the double-spend problem by combining BitTorrent peer-to-peer file-sharing technology with public-key cryptography to make a new form of digital money. Coin ownership is recorded

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vote. A vote is made using the Schultz method of preferential voting, which ensures that votes are not split by almost identical “cloned” proposals (like double-spend problem for votes). All of this is coordinated in the online platform. The voting system can run at different levels of transparency: disclosed identity, anonymity, or

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for Attention defining, Currency, Token, Tokenizing-Currency, Token, Tokenizing, Currency: New Meanings demurrage, Demurrage Currencies: Potentially Incitory and Redistributable-Extensibility of Demurrage Concept and Features double-spend problem, The Double-Spend and Byzantine Generals’ Computing Problems fiat currency, Relation to Fiat Currency-Relation to Fiat Currency monetary and nonmonetary, Currency Multiplicity: Monetary and

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, Genomecoin, GenomicResearchcoin Dogecoin, Technology Stack: Blockchain, Protocol, Currency, Currency Multiplicity: Monetary and Nonmonetary Currencies, Scandals and Public Perception DotP2P, Challenges and Other Decentralized DNS Services double-spend problem, The Double-Spend and Byzantine Generals’ Computing Problems DriveShare, DAOs and DACs dynamic redistribution of currency (see demurrage currency) E education (see learning and literacy

Confessions of a Crypto Millionaire: My Unlikely Escape From Corporate America

by Dan Conway · 8 Sep 2019 · 218pp · 68,648 words

digital money problem. He attached a nine-page white paper explaining how he’d done it. “In this paper, we propose a solution to the double-spending problem using a peer-to-peer distributed timestamp server to generate computational proof of the chronological order of transactions.” Satoshi proposed that each peer-to-peer

Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business, and the World

by Don Tapscott and Alex Tapscott · 9 May 2016 · 515pp · 126,820 words

of your spending a unit of digital currency in two places and having one of them bounce like a bad check. That’s called the double-spend problem. That’s good for fraudsters who want to spend their money twice. It’s bad for the recipient of the bounced amount and bad for

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your reputation online. Traditionally, when making online payments, we solve the double-spend problem by clearing every transaction through the central databases of one or many third parties, such as a money transfer service (like Western Union), a commercial

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. Breakthrough: Satoshi leveraged an existing distributed peer-to-peer network and a bit of clever cryptography to create a consensus mechanism that could solve the double-spend problem as well as, if not better than, a trusted third party. On the bitcoin blockchain, the network time-stamps the first transaction where the owner

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bitcoin, it moves from one person’s collection to another’s. That’s huge. The technology solves the intellectual property world’s equivalent of the double-spend problem better than existing digital rights management systems, and artists could decide whether, when, and where they wanted to deploy it. Meme artist Ronen V said

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, 33–35, 202 Distributed user accounts, 37 Document keeping, 159, 205 Domingo, Analie, 182–83, 186–87, 325n Double-entry accounting, 7, 74, 75, 310 Double-spend problem, 30–31, 132 Downey, Paul, 205 Draper, Adam, 286–87 Draper, Tim, 284, 310 Drug therapies, 151, 158 Dylan, Bob, 110 ECash, 4 Economic power

Mastering Blockchain: Unlocking the Power of Cryptocurrencies and Smart Contracts

by Lorne Lantz and Daniel Cawrey · 8 Dec 2020 · 434pp · 77,974 words

impose an economic cost, which would limit spam in email systems. For digital currency, the concept of using hashes would solve what’s called the double spend problem, which enables a digital unit to be copied like a file and thus spent more than once. Computers, after all, make it easy to duplicate