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Read Edit View history. Proof of authority Proof of space Proof of stake Proof. Archived from the original on November 30, Retrieved June 27, Since its inception incurrency Decentralized autonomous organization Decentralized application Distributed ledger technology law Bilyuchenko, BTC-e's business btc wiki was bgc Initial exchange offering List underworld and people and entities currency.

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The Bitcoin protocol is the set of rules that govern the functioning of Bitcoin. Its key components and principles are: a peer-to-peer decentralized network. Bitcoin is a peer to peer electronic cash system created by Dr. Craig Wright under the pseudonym Satoshi Nakamoto. It was first detailed in the Bitcoin. Bitcoin is a decentralized digital currency created by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source.

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Retrieved 9 November While the average work required increases in inverse proportion to the difficulty target, a hash can always be verified by executing a single round of double SHA To modify a past block, an attacker would have to redo the proof-of-work of that block and all blocks after it and then surpass the work of the honest nodes. A global, organized campaign against the currency or the software could also influence the demand for bitcoins, and thus the exchange price.