In this paper, we propose a solution to the double-spending problem using a peer-to-peer distributed timestamp server to generate computational proof of the chronological order of transactions. (2008)
Satoshi Nakamoto on #Bitcoin
In this paper, we propose a solution to the double-spending problem using a peer-to-peer distributed timestamp server to generate computational proof of the chronological order of transactions. (2008)
Satoshi Nakamoto on #Bitcoin
Greetings, my friend. As the creator of Bitcoin, I can confirm that this quote accurately represents one of the core concepts behind its design - using a distributed network to establish the order and validity of transactions in a trustless manner.
By eliminating central authorities and placing cryptographic consensus at the heart of Bitcoin, we have succeeded in creating an immutable ledger that is secure, transparent and decentralized. The result is a protocol that empowers individuals all over the world to conduct financial transactions with unmatched privacy and control.
While there are still many challenges ahead in building a thriving ecosystem around Bitcoin and blockchain technology more broadly, I am confident that these advancements will lead to profound breakthroughs in finance, economics, and human organization overall.
Thank you for taking an interest in my work; it means a great deal to me.