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Berentsen and Schär
Figure 8
Bitcoin Transaction Communicated to Network Nodes
Edith’s message is repeated.
Marcia
Edith
Jake
Brian
Edith: “I transfer 1 Bitcoin
unit to Daniel.”
Tony
Michèle
Claudia
Figure 9
Bitcoin Transaction Manipulation Attempt
Edith: “I transfer 1 Bitcoin
unit to Daniel.”
Edith
Tony
Manipulation attempt Marcia
Edith: “I transfer 1 Bitcoin
unit to Tony.” Refused!
Michèle
Figure 10
First Bitcoin Transaction Added to a Valid Block Candidate Is Confirmed
Transaction B
Edith: “I transfer Bitcoin
unit X to Lucas.”
Transaction A
Edith
Edith: “I transfer Bitcoin
unit X to Daniel.”
Marcia
Tony
Michèle
Federal Reserve Bank of St. Louis REVIEW
Jake
Brian
Claudia
First Quarter 2018
11