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BIBLIOGRAPHY

Bitcoin: A Peer-to-Peer Electronic Cash System

Satoshi Nakamoto

Claims Supported by This Source

  1. Abstract: Electronic cash that can be sent peer-to-peer without going through a financial institution. Double-spending is solved by a proof-of-work chain of hashed transactions. The longest chain serves as proof of the sequence of events.
  2. Introduction: Commerce on the Internet relies on financial institutions as trusted third parties, which prevents non-reversible transactions and whose mediation costs exclude small casual transactions.
  3. Section 4: Proof-of-work is the task of finding a value such that its SHA-256 hash begins with a given number of zero bits. The more subsequent blocks are chained, the more work is required to modify it.
  4. Section 6: The first transaction in each block creates a new coin for the block's creator. With no central issuer, this is the method of distribution, similar to gold mining. Once a predetermined number is reached, the reward will transition to transaction fees.
  5. Conclusion: A system for electronic transactions without relying on trust. Nodes can remain anonymous and are free to leave and rejoin the network.

How to read the verification levels. 'Read' means the material was read in its entirety. 'Bibliography and abstract confirmed' means the bibliographic information and abstract were verified. 'Via course material' means the source was referenced through the main text of a book or a country's monetary history. The text hash is the SHA-256 of the main text from the original source page, excluding tags and whitespace, used to detect if the material has been altered.