This is a quote from the book "B-Money" by Wei Dai
...l. In both cases I will assume the existence of an untraceablenetwork, where senders and receivers are identified only by digitalpseudonyms (i.e. public keys) and every messages is signed by its
igned by its sender and encrypted to its receiver.
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In the first protocol, every participant maintains a (seperate) database of how much money belongs to each pseudonym. These accoun
ydefine the ownership of money, and how these accounts are updated is thesubject of this protocol.
1. The creation of money. Anyone can create money by broadcasting thesolution to a...