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Groups > sci.physics > #573278
| From | jimp@specsol.spam.sux.com |
|---|---|
| Newsgroups | sci.physics |
| Subject | Re: Quantum Bitcoin: An Anonymous and Distributed Currency Secured by the No-Cloning Theorem of Quantum Mechanics |
| Date | 2016-04-26 00:43 +0000 |
| Organization | A noiseless patient Spider |
| Message-ID | <47q2vc-mbd.ln1@mail.specsol.com> (permalink) |
| References | <L82dnccQqPQt9YDKnZ2dnUU7-WWdnZ2d@giganews.com> <c5b855bf-4767-4cb7-b26b-84cbf9b21e76@googlegroups.com> <TZqdnb-Q4NwMK4PKnZ2dnUU7-XsAAAAA@giganews.com> |
Sam Wormley <swormley1@gmail.com> wrote: > On 4/25/16 7:23 PM, Double-A wrote: >> On Sunday, April 24, 2016 at 5:45:40 PM UTC-7, Sam Wormley wrote: >>> Quantum Bitcoin: An Anonymous and Distributed Currency Secured by the >>> No-Cloning Theorem of Quantum Mechanics >>>> http://arxiv.org/abs/1604.01383 >>> >>>> The digital currency Bitcoin has had remarkable growth since it was >>>> first proposed in 2008. Its distributed nature allows currency >>>> transactions without a central authority by using cryptographic >>>> methods and a data structure called the blockchain. In this paper we >>>> use the no-cloning theorem of quantum mechanics to introduce Quantum >>>> Bitcoin, a Bitcoin-like currency that runs on a quantum computer. We >>>> show that our construction of quantum shards and two blockchains >>>> allows untrusted peers to mint quantum money without risking the >>>> integrity of the currency. The Quantum Bitcoin protocol has several >>>> advantages over classical Bitcoin, including immediate local >>>> verification of transactions. This is a major improvement since we no >>>> longer need the computationally intensive and time-consuming method >>>> Bitcoin uses to record all transactions in the blockchain. Instead, >>>> Quantum Bitcoin only records newly minted currency which drastically >>>> reduces the footprint and increases efficiency. We present formal >>>> security proofs for counterfeiting resistance and show that a quantum >>>> bitcoin can be re-used a large number of times before wearing out - >>>> just like ordinary coins and banknotes. Quantum Bitcoin is the first >>>> distributed quantum money system and we show that the lack of a paper >>>> trail implies full anonymity for the users. In addition, there are no >>>> transaction fees and the system can scale to any transaction volume. >> >> >> Invest all your hard earned money in Bitcoins if you feel safe with that. As more me, I feel safer about my money being in gold! >> >> Double-A >> > > Other than a ring or a tooth have you invested in any gold? I did twice and doubled my money each time. -- Jim Pennino
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Quantum Bitcoin: An Anonymous and Distributed Currency Secured by the No-Cloning Theorem of Quantum Mechanics Sam Wormley <swormley1@gmail.com> - 2016-04-24 19:45 -0500
Re: Quantum Bitcoin: An Anonymous and Distributed Currency Secured by the No-Cloning Theorem of Quantum Mechanics Double-A <double-a3@hush.com> - 2016-04-25 17:23 -0700
Re: Quantum Bitcoin: An Anonymous and Distributed Currency Secured by the No-Cloning Theorem of Quantum Mechanics Sam Wormley <swormley1@gmail.com> - 2016-04-25 19:30 -0500
Re: Quantum Bitcoin: An Anonymous and Distributed Currency Secured by the No-Cloning Theorem of Quantum Mechanics jimp@specsol.spam.sux.com - 2016-04-26 00:43 +0000
Re: Quantum Bitcoin: An Anonymous and Distributed Currency Secured by the No-Cloning Theorem of Quantum Mechanics Double-A <double-a3@hush.com> - 2016-04-25 17:47 -0700
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