#4. Proof-of-Work 작업증명 To implement a distributed timestamp server on a peer-to-peer basis, we will need to use a proof- of-work system similar to Adam Back's Hashcash, rather than newspaper or Usenet

Each timestamp includes the previous timestamp in its hash, forming a chain, with each additional timestamp reinforcing the ones before it. 각각의 타임스탬프는 체인을 형성하는 그것의 해시안에 이전의 타임스탬프를 포함한다. 각각의 더해지는 타임스탬프는

#3. Timestamp Server 타임스탬프 서버 The solution we propose begins with a timestamp server. 우리가 제안한 그 솔루션은 타임스탬프 서버와 함께 시작한다. A timestamp server works by taking a hash of a block of items to be timestamped and

The payee needs proof that at the time of each transaction, the majority of nodes agreed it was the first received. 수취인은 각각의 거래순간에 대부분의 노드들이 최초로 받은 사람이라는 것에 동의해주는 증거가 필요하다.

To accomplish this without a trusted party, transactions must be publicly announced , and we need a system for participants to agree on a single history of the order in which they were received. 신뢰되는 당사자

In the mint based model, the mint was aware of all transactions and decided which arrived first. 조폐국 기반 모델에서, 조폐국은 모든 거래들을 알고 먼저 도착한 것을 결정한다.

For our purposes, the earliest transaction is the one that counts, so we don't care about later attempts to double-spend. 우리의 목적을 위해서. 최초의 거래는 카운트되는 것 중 하나이다. 그럼 우리는 이중지불하려는 나중 시도를 신경쓰지 않는다. The only way

We need a way for the payee to know that the previous owners did not sign any earlier transactions. 우리는 이전 소유주들이 어떤 초창기의 거래들에 서명하지 않았다는 것을 수취인이 알게하는 방법이 필요하다

The problem with this solution is that the fate of the entire money system depends on the company running the mint, with every transaction having to go through them, just like a bank. 이 해결책이 가진 문제는 전체

After each transaction, the coin must be returned to the mint to issue a new coin, and only coins issued directly from the mint are trusted not to be double-spent. 각각의 거래이후에 그 코인은 새로운 코인을 발행하기 위해 조폐국으로

A common solution is to introduce a trusted central authority, or mint, that checks every transaction for double spending. 평범한 해결책은 이중 지불을 위해 모든 거래를 체크하기 위해서 신뢰되는 권위기관 또는 조폐국를 도입하는 것이다.

The problem of course is the payee can't verify that one of the owners did not double-spend the coin. 수취인은 소유자들 중 한 사람이 코인을 이중 지불하지 않는다는 것을 확인할 수 없다는 것이 물론 문제이다.

A payee can verify the signatures to verify the chain of ownership. 수취인은 소유의 체인을 확인하기 위해 서명을 확인할 수 있다.

Each owner transfers the coin to the next by digitally signing a hash of the previous transaction and the public key of the next owner and adding these to the end of the coin. 이전거래의 해시와 다음 소유자의 공개키를 디지털적으로

#2. Transactions We define an electronic coin as a chain of digital signatures. 거래들 우리는 디지털 서명의 체인으로서 전자코인을 정의한다.

The system is secure as long as honest nodes collectively control more CPU power than any cooperating group of attacker nodes. 정직한 노드들이 공격자 노드들의 어떤 협력 그룹보다 더 CUP 파워를 연대하여 제어하는 한 그 시스템은 안전하다.

In this paper, we propose a solution to the double-spending problem using a peer-to-peer distributed timestamp server to generate computational proof of the chronological order of transactions. 이 페이퍼에서

Transactions that are computationally impractical to reverse would protect sellers from fraud, and routine escrow mechanisms could easily be implemented to protect buyers. 바꾸는 것이 계산적으로 비현실적인 거래들은 판매자들을

What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third

These costs and payment uncertainties can be avoided in person by using physical currency, but no mechanism exists to make payments over a communications channel without a trusted party. 이러한 비용과 지불의 불확실성은