The Double Spending Problem and Cryptocurrencies
8 Pages Posted: 23 Dec 2017
Date Written: December 19, 2017
At the core of the economic logic of cryptocurrencies lies the problem of surmounting the double-spending problem, which poses an accounting and accountability challenge that effective cryptocurrencies have sought to overcome. This discussion paper reviews the salient literature so as to better inform academic and practitioner inquiry on the double-spending problems in cryptocurrencies.
Keywords: Cryptocurrency, Bitcoin, Blockchain, Accountability, Double Spending, Hash Rate
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