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We define an electronic coin as a chain of digital signatures. Each owner transfers the coin to the next by digitally signing a ha

We define an electronic coin as a chain of digital signatures. Each owner transfers the coin to the next by digitally signing a hash of the previous transaction and the public key of the next owner and adding these to the end of the coin. A payee can verify the signatures to verify the chain of ownership.

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Source tag iconsource: whitepaper
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