【落合陽一オススメ】絶対に読むべき2つのブロックチェーン論文

日本を代表する科学者の一人、落合陽一氏。仮想通貨に対する見識も深く、彼の発言が仮想通貨の価格変動をもたらすほどの人物なのだが、落合陽一氏は最近以下のツイートを述べていた。

早速、二つの論文を読んでみたが、素晴らしい内容だったので、ぜひ皆様にも読んでいただきたい。

①Bitcoin: A Peer-to-Peer Electronic Cash System

著者:Satoshi Nakamoto
URL: http://bitcoin.jp/bitcoin.pdf

Abstract. A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. We propose a solution to the double-spending problem using a peer-to-peer network. The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work. The longest chain not only serves as proof of the sequence of events witnessed, but proof that it came from the largest pool of CPU power. As long as a majority of CPU power is controlled by nodes that are not cooperating to attack the network, they’ll generate the longest chain and outpace attackers. The network itself requires minimal structure. Messages are broadcast on a best effort basis, and nodes can leave and rejoin the network at will, accepting the longest proof-of-work chain as proof of what happened while they were gone.

②Can We Stabilize the Price of a Cryptocurrency?: Understanding the Design of Bitcoin and Its Potential to Compete with Central Bank Money

著者:Mitsuru Iwamura
URL: https://hermes-ir.lib.hit-u.ac.jp/rs/bitstream/10086/26940/1/DP617.pdf

Abstract. This paper discusses the potential and limitations of Bitcoin as a digital currency. Bitcoin as a digital asset has been extensively discussed from the viewpoints of engineering and security design. But there are few economic analyses of Bitcoin as a currency. Bitcoin was designed as a payments vehicle and as a store of value (or speculation). It has no use bar as money or currency. Despite recent enthusiasm for Bitcoin, it seems very unlikely that currencies provided by central banks are at risk of being replaced, primarily because of the market price instability of Bitcoin (i.e. the exchange rate against the major currencies). We diagnose the instability of market price of Bitcoin as being a symptom of the lack of flexibility in the Bitcoin supply schedule ‐ a predetermined algorithm in which the proof of work is the major driving force. This paper explores the problem of instability from the viewpoint of economics and suggests a new monetary policy rule (i.e. monetary policy without a central bank) for stabilizing the values of Bitcoin and other cryptocurrencies.

英文であるが、基礎的な内容となるので、この二つの論文は少なからず読んでおきたい。




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