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Oct 18, 2017 1. Crypto-ledgers allow decentralized digital transactions. 2. Bitcoin solves the double-spend problem. 3. Digital signatures use PKI to ensure validity of transactions. 4. Blockchain is a public ledger. 5. Mining process ensures integrity of public ledger + creates new bitcoins + rewards miners for taking part in 

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Jun 15, 2017 bitcoins. Because there is no simpler way of finding the proof-of-work, it is hard to create a block. The difficulty of the computational problem is set such that every ten minutes a block will be created by the entire network. This means that the time interval to update the other miners is hopefully long enough to.