Bitcoin P2P e-cash paper

James A. Donald jamesd at
Sun Nov 9 03:56:53 EST 2008

Satoshi Nakamoto wrote:
 > The proof-of-work chain is the solution to the
 > synchronisation problem, and to knowing what the
 > globally shared view is without having to trust
 > anyone.
 > A transaction will quickly propagate throughout the
 > network, so if two versions of the same transaction
 > were reported at close to the same time, the one with
 > the head start would have a big advantage in reaching
 > many more nodes first.  Nodes will only accept the
 > first one they see, refusing the second one to arrive,
 > so the earlier transaction would have many more nodes
 > working on incorporating it into the next
 > proof-of-work.  In effect, each node votes for its
 > viewpoint of which transaction it saw first by
 > including it in its proof-of-work effort.

OK, suppose one node incorporates a bunch of
transactions in its proof of work, all of them honest
legitimate single spends and another node incorporates a
slightly different bunch of transactions in its proof of
work, all of them equally honest legitimate single
spends, and both proofs are generated at about the same

What happens then?

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