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P2P Wireless Networks DTN Anonymous Networks Architecture Applications

BitCoins
BitCoin is a world-wide digital currency using P2P to operate
with no central authority.
Transactions of currency are signed by current owner (payer)
and include new owner (payee)s public key. Transactions are
sent to all peers, who try to group them into blocks. Closing
blocks requires lots of CPU, and the incentive to do it is being
allowed to mint a new coin.
Carlos Borrego, Sergi Robles Unit 3 9 / 49
P2P Wireless Networks DTN Anonymous Networks Architecture Applications
Transaction
Owner 1's
Public Key
Owner 0's
Signature
Hash
Transaction
Owner 2's
Public Key
Owner 1's
Signature
Hash
V
e
r
ify
Transaction
Owner 3's
Public Key
Owner 2's
Signature
Hash
V
e
r
ify
Owner 2's
Private Key
Owner 1's
Private Key
S
i
g
n
S
i
g
n
Owner 3's
Private Key
Transactions are chained,
following the sequence of
ownership.
Nodes have to nd a
nonce that makes the
blocks hash begin with
a given number of
zeros.
Block
Prev Hash Nonce
Tx Tx ...
Block
Prev Hash Nonce
Tx Tx ...
Carlos Borrego, Sergi Robles Unit 3 10 / 49
P2P Wireless Networks DTN Anonymous Networks Architecture Applications
Namecoin
Namecoin is a cryptocurrency, like bitcoin, used to keep a
decentralised DNS service.
.bit domain names are looked up in the Namecoin blockchain,
and nodes creating blocks are awarded namecoins.
Namecoin is merge mined with Bitcoin, which means that a
node can mine for both Namecoin and Bitcoin simultaneously
at the same rate that they would mine just one.
Carlos Borrego, Sergi Robles Unit 3 11 / 49