Bitcoin: A Peer-to-Peer Electronic Cash System - 0. Abstract

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 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 withou redoing the proof-of-work.

The longest chain not only serves as proof of the sequence of events witnessed. but proff 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 attck the network. they'll generate the longest chain and outpace attackers.

The network itself requires minial 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 ot what happened while they were gone.

 

순수한 P2P 방식의 전자화폐는 금융기관을 거치지 않고도 한 사람에서 다른 사람에게 직접 온라인 송금을 가능하게 한다.

디지털 서명은 일부 문제를 해결하지만, 이중지불(double-spending)을 방지하기 위해 신뢰할 수 있는 제3자가 여전히 필요하다면, 핵심장점은 사라진다.

우리는 이중지불 문제를 P2P네트워크를 통해 해결하는 방법을 제안한다.

 

여기부터 이해안됨

이 네트워크는 트랜잭션을 해시함으로써 시간기록(timestamps)하고, 이를 해시 기반의 작업증명 체인에 연결해 나간다.