October 31, 2008, day of #Halloween

A certain #SatoshiNakamoto will announce a new concept. #Bitcoin !!!

“I worked on a new electronic cash system, which works entirely peer-to-peer, without a trusted third party.

The main characteristics:

- Double spending is avoided thanks to a peer-to-peer network.

- No currency or other trusted third parties.

- Participants can be anonymous.

- New coins are created using#Hashcashproof of work.

- Proof of work for generating new coins also powers the network to prevent double spending.

Summary :

A fully peer-to-peer electronic money system would allow online payments to be made directly from one party to another without going through a financial institution. Digital signatures offer such a solution, but lose their interest when a trusted third party is required to prevent double payment.

We propose a solution to this problem using a peer-to-peer network. The network timestamps transactions using a hash function that translates them into a continuous chain of proof-of-work, forming a record that cannot be changed without re-performing the proof-of-work.

The longest chain serves not only as proof of how the observed events unfolded, but also as proof that it comes from the largest pool of computing power.

As long as the majority of computing power is controlled by nodes that do not cooperate in attacking the network, they will generate the longest chain and outperform the attackers.

The network itself requires only a reduced structure. Messages are broadcast on a best-effort basis, and nodes can leave or rejoin the network at will, accepting the longest proof-of-work chain upon return as proof of what happened while they were away.

Satoshi Nakamoto"