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The Double-Spend (What Bitcoin's White Paper Solved Forever)

Published 10/27/2018, 05:15 AM
Updated 10/27/2018, 06:45 AM
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Bill Barhydt is the founder and CEO of Abra.

This exclusive opinion piece is part of CoinDesk's "Bitcoin at 10: The Satoshi White Paper" series.

I remember reading Satoshi Nakamoto's bitcoin white paper for the first time a few weeks after it was released. I also remember the phrase that really grabbed my attention:

"We propose a solution to the double-spending problem using a peer-to-peer distributed timestamp server to generate computational proof of the chronological order of transactions…"
Of course, at the moment, I thought, "Whoa, this can't be true. How can he possibly have a solution to the double-spend problem that is peer to peer?"

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