{"id":3270,"date":"2022-03-05T18:32:35","date_gmt":"2022-03-05T18:32:35","guid":{"rendered":"http:\/\/smart.onlinesarafi.com\/index.php\/2022\/03\/05\/lobstexwhitepaper\/"},"modified":"2022-03-05T18:32:35","modified_gmt":"2022-03-05T18:32:35","slug":"lobstexwhitepaper","status":"publish","type":"post","link":"https:\/\/smart.onlinesarafi.com\/index.php\/2022\/03\/05\/lobstexwhitepaper\/","title":{"rendered":"Lobstex\tWhitepaper"},"content":{"rendered":"<div id=\"post-8812\">\n<div class=\"entry-content\" readability=\"66.776560266794\">\n<p>Cryptocurrency is a digital asset that inherently act as an exchange medium using the technology of cryptography to safely secure it\u2019s concerned transactions resulting in control of the newly generated additional currency units and subsequently verifying the asset transfer. If we look back at the history of cryptocurrencies, Satoshi Nakamoto, the pseudonymous inventor of Bitcoin, never had the intention of inventing a cryptocurrency viz. Bitcoin. Nakamoto, made an announcement in late 2008 about Bitcoin, he mentioned about the development of an electronic cash system based on peer to peer.<\/p>\n<p>\u201cAnnouncing the first release of Bitcoin, a new electronic cash system that uses a peer-to-peer network to prevent double-spending. It\u2019s completely decentralized with no server or central authority\u201d. \u2013 Satoshi Nakamoto, 09 January 2009, announcing Bitcoin on SourceForge.<\/p>\n<p>Nakamoto, took along the concept of digital cash and added a dimension of decentralization, after the concept of digital money failed in 90\u2019s decade : \u201c \u2026 after more than a decade of failed Trusted Third Party based systems (Digicash, etc), they see it as a lost cause. I hope they can make the distinction, that this is the first time I know of that we\u2019re trying a nontrust based system\u201d. \u2013 Satoshi Nakamoto in an E-Mail to Dustin Tram<\/p>\n<p>The problems faced in this system were double spending and consensus system to verify without having a central authority in control. In a network having decentralized perspective, there is no particular server. Thus, every single unit of node or network fulfil this promise of completing the job. The network works on the basis of every single peer having a list of all transactions to verify and check regarding the validity and of forthcoming transactions and minimise the risk of double spending. The proposed consensus included a set of rules, most of which regard transaction\u2019s validation and transaction\u2019s block. The latter are transaction groups close in time, cryptographically concatenated to compose the blockchain, that led to birth of cryptocurrency.<\/p>\n<p> <a href=\"https:\/\/www.allcryptowhitepapers.com\/wp-content\/uploads\/2018\/11\/Lobstex.pdf\" class=\"pdfemb-viewer\" data-width=\"max\" data-height=\"max\" data-toolbar=\"bottom\" data-toolbar-fixed=\"on\">Lobstex<br \/><\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Cryptocurrency is a digital asset that inherently act as an exchange medium using the technology of cryptography to safely secure it\u2019s concerned transactions resulting in control of the newly generated additional currency units and subsequently verifying the asset transfer. If we look back at the history of cryptocurrencies, Satoshi Nakamoto, the pseudonymous inventor of Bitcoin, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3270","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/posts\/3270","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/comments?post=3270"}],"version-history":[{"count":1,"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/posts\/3270\/revisions"}],"predecessor-version":[{"id":3271,"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/posts\/3270\/revisions\/3271"}],"wp:attachment":[{"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/media?parent=3270"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/categories?post=3270"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/smart.onlinesarafi.com\/index.php\/wp-json\/wp\/v2\/tags?post=3270"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}