January 2019
Intermediate to advanced
258 pages
7h 12m
English
Content preview from Blockchain for Business 2019
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Double-spending and how Bitcoin resolved it
Double-spending is a problem that is unique to digital currencies, because digital information can be reproduced relatively easily. Physical currencies do not have this issue, as they cannot easily be replicated. You probably have an idea of all of the protections in place that secure the banknotes in your wallet from anyone simply copying them.
Bitcoin was the first digital currency system to solve the double-spending problem in a decentralized way, and the solution is indeed elegant and ingenious. All transactions on the Bitcoin network are recorded on a shared public transaction log, also known as a blockchain database. On the Bitcoin blockchain, the network timestamps the first transaction where ...
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.