Bitcoin and Cryptocurrency Technologies: A Comprehensive by Arvind Narayanan, Joseph Bonneau, Edward Felten, Andrew

By Arvind Narayanan, Joseph Bonneau, Edward Felten, Andrew Miller, Steven Goldfeder

Bitcoin and Cryptocurrency Technologies presents a finished advent to the innovative but frequently misunderstood new applied sciences of electronic forex. no matter if you're a pupil, software program developer, tech entrepreneur, or researcher in machine technological know-how, this authoritative and self-contained ebook tells you every thing you must find out about the recent international cash for the web age.

How do Bitcoin and its block chain really paintings? How safe are your bitcoins? How nameless are their clients? Can cryptocurrencies be regulated? those are many of the many questions this e-book solutions. It starts by means of tracing the background and improvement of Bitcoin and cryptocurrencies, after which offers the conceptual and functional foundations you want to engineer safe software program that interacts with the Bitcoin community in addition to to combine principles from Bitcoin into your individual initiatives. issues contain decentralization, mining, the politics of Bitcoin, altcoins and the cryptocurrency environment, the way forward for Bitcoin, and more.

  • An crucial advent to the recent applied sciences of electronic currency
  • Covers the historical past and mechanics of Bitcoin and the block chain, safeguard, decentralization, anonymity, politics and law, altcoins, and lots more and plenty more
  • Features an accompanying web site that incorporates educational video clips for every bankruptcy, homework difficulties, programming assignments, and lecture slides
  • Also compatible to be used with the authors' Coursera on-line course
  • Electronic recommendations guide (available basically to professors)

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Extra resources for Bitcoin and Cryptocurrency Technologies: A Comprehensive Introduction

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So Goldberg came up with a proposal using different types of coins that would allow these transactions to occur, allow you to get change back, and still preserve your anonymity. Why did DigiCash fail? The main problem was that it was hard to persuade banks and merchants to adopt it. Since there weren’t many merchants that accepted ecash, users didn’t want it either. Worse, it didn’t support user-to-user transactions, or at least not very well. It was really centered on the user-to-merchant transaction.

That means I can keep track of all the places where you’re spending your money. Here is where Chaum’s innovation comes in. He figured out how to both keep the system anonymous and prevent double spending by inventing the digital equivalent of the following procedure: when I issue a new note to you, you pick the serial number. You write it down on the piece of paper, but cover it so that I can’t see it. Then I’ll sign it, still unable to see the serial number. This is called a “blind signature” in cryptography.

He also cites the Hashcash proposal, whose computational puzzle is similar to the one used in Bitcoin. And he references b-money. Later, on the website, he added references to Bitgold and to a scheme by Hal Finney for reusing computational puzzle solutions. But if we look at the email exchanges that were made public by people who corresponded with Satoshi Nakamoto in the early days, we find that the b-money proposal was actually added after the fact, at the suggestion of Adam Back. Satoshi then emailed Wei Dai, who created b-money, and apparently, Dai was the one who told him about Bitgold.

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