比特币白皮书-中本聪

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1、Bitcoin:APeer-to-PeerElectronicCashSystemSatoshiNakamotosatoshin@gmx.comwww.bitcoin.orgAbstract.Apurelypeer-to-peerversionofelectroniccashwouldallowonlinepaymentstobesentdirectlyfromonepartytoanotherwithoutgoingthroughafinancialinstitution.Digitalsignature

2、sprovidepartofthesolution,butthemainbenefitsarelostifatrustedthirdpartyisstillrequiredtopreventdouble-spending.Weproposeasolutiontothedouble-spendingproblemusingapeer-to-peernetwork.Thenetworktimestampstransactionsbyhashingthemintoanongoingchainofhash-base

3、dproof-of-work,formingarecordthatcannotbechangedwithoutredoingtheproof-of-work.Thelongestchainnotonlyservesasproofofthesequenceofeventswitnessed,butproofthatitcamefromthelargestpoolofCPUpower.AslongasamajorityofCPUpoweriscontrolledbynodesthatarenotcooperat

4、ingtoattackthenetwork,they'llgeneratethelongestchainandoutpaceattackers.Thenetworkitselfrequiresminimalstructure.Messagesarebroadcastonabesteffortbasis,andnodescanleaveandrejointhenetworkatwill,acceptingthelongestproof-of-workchainasproofofwhathappenedwhil

5、etheyweregone.1.IntroductionCommerceontheInternethascometorelyalmostexclusivelyonfinancialinstitutionsservingastrustedthirdpartiestoprocesselectronicpayments.Whilethesystemworkswellenoughformosttransactions,itstillsuffersfromtheinherentweaknessesofthetrust

6、basedmodel.Completelynon-reversibletransactionsarenotreallypossible,sincefinancialinstitutionscannotavoidmediatingdisputes.Thecostofmediationincreasestransactioncosts,limitingtheminimumpracticaltransactionsizeandcuttingoffthepossibilityforsmallcasualtransa

7、ctions,andthereisabroadercostinthelossofabilitytomakenon-reversiblepaymentsfornon-reversibleservices.Withthepossibilityofreversal,theneedfortrustspreads.Merchantsmustbewaryoftheircustomers,hasslingthemformoreinformationthantheywouldotherwiseneed.Acertainpe

8、rcentageoffraudisacceptedasunavoidable.Thesecostsandpaymentuncertaintiescanbeavoidedinpersonbyusingphysicalcurrency,butnomechanismexiststomakepaymentsoveracommunicationschannelwithoutatrustedparty.Whatisneede