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The paper proposes a decentralized electronic cash system that prevents double‑spending without trusted intermediaries by employing timestamped proof‑of‑work chains, incentivizing honest nodes, and detailing transaction structures, network operation, privacy, and security analyses.
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Blockchain technology underpins the FinTech revolution by providing a distributed, decentralized, and immutable ledger that powers Bitcoin’s proof‑of‑work consensus, while also exposing security vulnerabilities and prompting industry initiatives such as R3’s Corda platform to adapt regulated financial infrastructures.
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