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  • Double Spending 170116084049

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    Dr.A.Vaniprabha sns
    31 views32 pages
    The document discusses the double spending problem in blockchain and how it is solved. It explains that time cannot be depended on to establish transaction order. It introduces the concepts of transaction chains, blocks, and using computational power to broadcast blocks to create branches, with the longest branch being accepted by honest nodes holding over half of the power.

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    The document discusses the double spending problem in blockchain and how it is solved. It explains that time cannot be depended on to establish transaction order. It introduces the concepts of transaction chains, blocks, and using computational power to broadcast blocks to create branches, with the longest branch being accepted by honest nodes holding over half of the power.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    31 views32 pages

    Double Spending 170116084049

    Uploaded by

    Dr.A.Vaniprabha sns
    The document discusses the double spending problem in blockchain and how it is solved. It explains that time cannot be depended on to establish transaction order. It introduces the concepts of transaction chains, blocks, and using computational power to broadcast blocks to create branches, with the longest branch being accepted by honest nodes holding over half of the power.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 32

    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

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