Bitcoin 6.0: Military Grade e-Payment System

10 Pages Posted: 4 Aug 2020

See all articles by Yuvraj Kumar

Yuvraj Kumar

Zukovsky State University; Harvard Business School

satoshiq nakamoto

affiliation not provided to SSRN

Date Written: June 24, 2015

Abstract

A purely anti-node non-peer-to-peer version of electronic money would allow online payments to be sent directly from one person to another without going through a financial institution and node promoters such as digital and gold-miners. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. We propose a solution to the double-spending problem using an anti-node non-peer-to-peer network which is not only distributed but encrypted to the core of the gene. The network timestamps transactions by hashing them into an ongoing chain of hash-based genesis-concept combined with military grade chain-reinforced-encryption using AES, SHA, RSA and custom algos, forming a record that cannot be changed without redoing the genesis-concept. The longest chain not only serves as proof of the sequence of events witnessed, but proof that it came from the largest pool of CPU power. As long as a majority of CPU power is controlled by nodes that are not cooperating to attack the network, they'll generate the longest chain and outpace attackers. The network itself requires minimal structure. Messages are broadcasted on a best effort basis, and nodes can leave and re-join the network at will, accepting the longest proof-of-work chain as proof of what happened while they were gone. However, in the proposed model, the central authority server itself acts as the node and represents the network transport layer by itself which enables it to not to be dependent on individual nodes, and the crypto-formulation continuous at server level. By this process, the dependency on nodes are ruled out and the server (the executioner, in this case) gets all the bits combined in one platform from the beginning to the end using enhanced salting layer, providing the facility of de-centralized defacto standard e-payments within nano seconds or less i.e., account to account transfer using one central block processing schema.

Keywords: bitcoin, bitcoin 6.0, antinode, non-peer-to-peer, crypto, currency, encrypted

Suggested Citation

Kumar, Yuvraj and nakamoto, satoshiq, Bitcoin 6.0: Military Grade e-Payment System (June 24, 2015). Bitcoin and The Future of Virtual Currency, Available at SSRN: https://ssrn.com/abstract=3665522 or http://dx.doi.org/10.2139/ssrn.3665522

Yuvraj Kumar (Contact Author)

Zukovsky State University ( email )

25 Martyr Polkovsky Lne
Gen Emb.
St. Petersburg, St. Petersburg 200562
Russia

HOME PAGE: http://zsuniv.ru

Harvard Business School ( email )

Soldiers Field Road
Morgan 270C
Boston, MA 02163
United States

Satoshiq Nakamoto

affiliation not provided to SSRN

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