A New Scheme for the Electronic Coin

Bitcoin was proposed by Nakamoto (2008) as the first electronic payment system, which fully relies on cryptographic primitives in order to work over a purely peer-to-peer system, where everyone can participate in spending funds to other users without the need for a trusted third party. This chapter first introduces the basic ideas of Satoshi Nakamoto, who defined an electronic coin as a chain of digital signatures. It explains how the addresses in Bitcoin are derived, and how the elliptic curve cryptography (ECC) key pair is used in order to transact funds from one user to another. For this, it shows how the transactions are constructed in Bitcoin, based on the most common transaction, which is the Pay-to-Public-Key-Hash transaction. The last section then shows how the transactions are permanently stored in the public ledger, the blockchain, and how the miners solve the Proof-of-Work in order to safeguard the records.

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Strong loss tolerance of electronic coin systems

ACM Transactions on Computer Systems ◽

10.1145/253145.253282 ◽

1997 ◽

Vol 15 (2) ◽

pp. 194-213 ◽

Cited By ~ 13

Author(s):

Birgit Pfitzmann ◽

Michael Waidner

Keyword(s):

Loss Tolerance ◽

Electronic Coin

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Research on Electronic Coin Recognition System Based on STC89C52

Applied Mechanics and Materials ◽

10.4028/www.scientific.net/amm.713-715.432 ◽

2015 ◽

Vol 713-715 ◽

pp. 432-436

Author(s):

Ting Wang ◽

Hao Wang

Keyword(s):

Software Design ◽

Strain Sensor ◽

Recognition System ◽

Single Chip ◽

Single Chip Microcomputer ◽

System Testing ◽

Electronic Coin

STC89C52 single-chip microcomputer is used as control core of the system, and characteristics of photoelectric switch is used to design a scheme for detection of face value of coins based on different sizes of coins. Genuine coins and counterfeit coins have different size and mass, based on which the combination of strain sensor and photoelectric switch is put forward to design a scheme for identifying genuine coins and counterfeit coins. In this paper, hardware and software design of the system is introduced in a detail way and system testing is conducted at last, the result of which indicates that the system can realize the identification, classified statistics, sound and light prompting for coins with different face values as well as identification of genuine coins and counterfeit coins, and thus has a certain degree of prospect for application and value of promotion.

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Bitcoin sebagai Alat Pembayaran Online dalam Perdagangan Internasional

Perspektif Hukum ◽

10.30649/ph.v16i1.47 ◽

2016 ◽

pp. 122-138

Author(s):

Dwikky Ananda Rinaldi ◽

Mokhamad Khoirul Huda

Keyword(s):

Open Source ◽

Financial Institutions ◽

National Economy ◽

Financial Sector ◽

Peer To Peer ◽

Raw Material ◽

Peer Network ◽

Economic Need ◽

Electronic Coin ◽

Peer To Peer Network

The growth of national economy encourages a significant change in the financial sector, especially a means of payment. Starting from the barter, the means then changes to be the goods or commodities, and finally the metal and paper as a raw material of money. The form of money as a means of payment continuously changes namely in the form of checks and transfer form that allow payment through transferring funds from the account balances among financial institutions, especially the banks. The economic need continuously grows so that it shifts the ways of trade transactions from conventional to internet based one that is known as e-commerce. One of the International online payment means required in an e-commerce transaction is Bitcoin. Bitcoin is an electronic coin that uses a system of peer-to-peer network that is open source. Bitcoin is not a virtual coin and not the legal means of payment in Indonesia. The legal means in Indonesia is the rupiah. It has been described in Article 1 section (2) of Act No. 7 of 2011 on Currencies that the the coin used for payment transactions in Indonesia is the rupiah.

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