Group: Forum Members
And here is an excerpt from abstract for your convenience:
The system proposed in this paper is a value transfer system with its distributed, decentralized, immutable, and extensible ledgers. It leans on the principles of real existing transaction recording systems (double-entry bookkeeping), which make use of ledgers. These systems are distributed. They are decentralized, if the artificial requirement for trusted parties, who are privileged to assign Ids to individual accounts, are removed. They are immutable, and for sure extensible. Fraud is only possible at the cost of very heavy crime. The introduced system includes a process to prove ownership of accounts, making a central authority superfluous. Immutability is guaranteed by allowing “append” as the only operation to modify a ledger.