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Howtoavoiddouble
spending?
Problem
Orderproblem
Wecannotdependon
timeasitiseasily
falsifiable.
Doublespendfraud
Invalidatedbysomenodes.
Howtoagreeonanorder?
Blockchain.
Transactionchain
Block
Answertoaspecific
problem
Firstpersontofindasolution
willbroadcasttheblocktothe
network
Severalpossiblebranches
Youneedcpupowertohaveyour
blockbroadcasted
Youalwaysswitchedtothe
longuestbranch.
Halfofnodesmustbehonnest.
Ihaveconstructedthispresentationbasedon:
· Bitcoin under the hood
· Mastering Bitcoin
· Original paper
· Coursera
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