double spending
Post on 14-Apr-2017
74 Views
Preview:
TRANSCRIPT
How to avoid double spending ?
Problem
Order problem
We cannot depend on time as it is easily
falsifiable.
Double spend fraud
Invalidated by some nodes.
How to agree on an order ?
Blockchain.
Transaction chain
Block
Answer to a specific problem
First person to find a solution will broadcast the block to the
network
Several possible branches
You need cpu power to have your block broadcasted
You always switched to the longuest branch.
Half of nodes must be honnest.
I have constructed this presentation based on :· Bitcoin under the hood
· Mastering Bitcoin· Original paper
· Coursera
Icons made by Freepik from Flaticon is licensed by Creative Commons BY 3.0
top related