Block Quote: 823805

'The main properties:

Double-spending is prevented with a peer-to-peer network.

No mint or other trusted parties.

Participants can be anonymous.

New coins are made from Hashcash style proof-of-work.

The proof-of-work for new coin generation also proof-of-workers the network to prevent double-spending.' November 1, 2008 - Satoshi Nakamoto