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Spiro Buzharovski
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1. Introduction to Blockchain
Spiro Buzharovski1
(1) Skopje, North Macedonia
Further, at the end of every day, you all sit together and refer to the
ledger to do the calculations to settle up. Let’s imagine that there is a
pot that is the place where all of the money is kept. If you spent more
than you received, you put that money in the pot; otherwise, you take
that money out.
We want to design the system such that it functions similarly to a
regular bank account. A holder of a wallet (bank account) should be
able to only send money from their wallet to other wallets. Thus, every
person in the system will have a wallet of a kind, which can also be used
to determine the balance for them. Note that with the current setup
using a ledger, we have to go through all the existing records to
determine the balance of a specific wallet.
If we want to avoid going through all the existing records, there is a
way we can optimize this with unspent transaction outputs (UTXOs), as
we will see later in Chapter 3.
A problem that may arise is the double-spending problem , where
Bob can try to send all of his money to Alice and you at the same time,
thus effectively doubling the money he sends in relation to what he
owned. There are several ways this can be resolved, and the solution
that we will provide will be a simple check of the sum of the inputs and
the sum of the outputs.
A problem that might appear with this kind of system is that anyone
can add a transaction. For example, Bob can add a transaction where
Alice pays him a few dollars without Alice’s approval. We need to re-
think our system such that each transaction will have a way to be
verified/signed.
So it was done. At the inquest the whole story was told, both by
Joan and Ellery and by Superintendent Wilson. The papers the next
day were full of it, and full, too, of compliments both to the
professionals and to the amateurs on the skill shown in unravelling
the mystery. But that same day came a parliamentary crisis. The old
Prime Minister resigned, and a new one—in the name of
conservatism and tranquillity—took his place. Parliament was
dissolved, and the drums beat and beacons flared in anticipation of
an “appeal to the people.” In a few days, the Brooklyn mystery was
forgotten, except by those directly concerned and by a few
specialists in the records of crime.
THE END
Transcriber’s Note
The Brooklyn Murders was originally published in England in 1923
by Collins. This transcription was made from the text of the US
edition published in 1924 by Thomas Seltzer, Inc. However, the
following changes have been made to correct what are believed to
be unambiguous printer’s errors.
Updated editions will replace the previous one—the old editions will
be renamed.