mirror of
https://github.com/bitcoinbook/bitcoinbook
synced 2024-11-25 09:28:25 +00:00
Edited appa_whitepaper.adoc with Atlas code editor
This commit is contained in:
parent
31fb9f3f2c
commit
190b128f5f
@ -32,7 +32,7 @@ The problem of course is the payee can't verify that one of the owners did not d
|
||||
We need a way for the payee to know that the previous owners did not sign any earlier transactions. For our purposes, the earliest transaction is the one that counts, so we don't care about later attempts to double-spend. The only way to confirm the absence of a transaction is to be aware of all transactions. In the mint based model, the mint was aware of all transactions and decided which arrived first. To accomplish this without a trusted party, transactions must be publicly announced [1], and we need a system for participants to agree on a single history of the order in which they were received. The payee needs proof that at the time of each transaction, the majority of nodes agreed it was the ((("transactions", "in Bitcoin whitepaper", secondary-sortas="Bitcoin whitepaper", startref="transaction-whitepaper")))first received.
|
||||
|
||||
==== Timestamp Server
|
||||
The ((("timestamp servers", "in Bitcoin whitepaper", secondary-sortas="Bitcoin whitepaper")))solution we propose begins with a timestamp server. A timestamp server works by taking a hash of a block of items to be timestamped and widely publishing the hash, such as in a newspaper or Usenet post [2-5]. The timestamp proves that the data must have existed at the time, obviously, in order to get into the hash. Each timestamp includes the previous timestamp in its hash, forming a chain, with each additional timestamp reinforcing the ones before it.
|
||||
The ((("timestamp servers")))solution we propose begins with a timestamp server. A timestamp server works by taking a hash of a block of items to be timestamped and widely publishing the hash, such as in a newspaper or Usenet post [2-5]. The timestamp proves that the data must have existed at the time, obviously, in order to get into the hash. Each timestamp includes the previous timestamp in its hash, forming a chain, with each additional timestamp reinforcing the ones before it.
|
||||
|
||||
image::images/mbc3_aain02.png["timestamp server"]
|
||||
|
||||
|
Loading…
Reference in New Issue
Block a user