Tela Network

is that digital money requires credible history. Satoshi found that: - the central problem of digital money is the double-spending attack - the central requirement for a solution is a trustworthy source of transaction ordering - a timestamp server From these two aspects flow these points in the Bitcoin whitepaper: https://bitcoin.org/bitcoin.pdf - "a peer-to-peer distributed timestamp server" - "computational proof of the chronological order of transactions" - "The system is secure as long as honest nodes collectively control more CPU power than any cooperating group of attacker nodes." - "We define an electronic coin as a chain of digital signatures." - "The only way to confirm the absence of a transaction is to be aware of all transactions." - "To implement a distributed timestamp server on a peer-to-peer basis, we will need to use a proof-of-work system" - "Proof-of-work is essentially one-CPU-one-vote." - "Nodes always consider the longest chain to be the correct one"