$NIGGAMOTO: A Nigga-to-Nigga Electronic Cash System
Abstract.
Imagine a world where you can shoot payments across the internet straight from your pocket to someone else’s, no middlemen, no banks, just straight-up nigga-to- nigga. Digital signatures crack part of the puzzle by proving who’s who, but that alone doesn’t cut it because we still need a way to stop folks from spending the same money twice. Our pitch? A network from nigga to nigga that stamps the time on transactions by locking them in a chain of digital proof-of-working. This creates a record that’s a real headache to mess with unless you redo all that complex proof.
The beefiest chain isn’t just a timestamp; it’s solid evidence of the story of transactions and the muscle of the most CPU power behind it. As long as the good guys hold the majority of computing power, they’ll keep the chain growing faster than any troublemakers can keep up. This whole system barely needs any framework. Messages just get thrown out into the digital ether, and nodes can pop in or out, catching up on the story by checking out the longest chain of proof-of- working.
Yo, check it. The game of moving that product be all up in them financial joints now. Trustin’ these third-party peeps to handle the cash flow. It’s cool for most deals, but it got its flaws, ya know? Can’t make transactions set in stone, ’cause them institutions gotta step in when things go south. Mediation costs rack up, makin’ it hard for them small-time moves. And forget about keepin’ it low-key, gotta watch your back dealing with shady customers. Some amount of deceit’s just part of the game. Cash is king when it’s face to face, but when it’s gotta go through them wires, you gotta have a trusted ace up your sleeve.
Yo, peep this. What we really need is a new payment setup, one that runs on proof, not trust. Letting any two players do business without no middleman. Transactions so complex they can’t be flipped, keepin’ them sellers safe. And we can set up some backup plans to cover the buyers too. In this piece, we got a fix for that double-spend issue using a streetwise timestamp system to prove who came first. As long as the good guys got more juice, we stay protected from them shady players tryna mess with the system
Think of it like this, we’re talking about a type of cash that lives in the digital world, right? This ain’t your regular dollar bill; it’s like a chain made up of all these digital handshakes, each one a promise from one person to the next. When you wanna pass this digital cash along, you gotta put your digital John Hancock on it, mixing up a secret code from the deal before with the next person’s digital address, then slap that signature right on the tail end of this digital coin.
Alright, here’s the deal: Imagine you’re in the game, right? And there’s this issue where the person getting paid can’t be sure the cash hasn’t been flipped twice by someone else before—it’s like trying to catch a ghost, you feel me? Normally, folks might call up a big player, like a central authority or a mint, to keep an eye out, making sure nobody’s playing games with the cash. After every move, the coin’s gotta go back to this big player to get the okay for the next round, making sure it’s fresh and hasn’t been played twice.
But here’s the twist: putting all our chips in one basket with this central player means we’re all dancing to their tune, with every move we make needing their nod. That’s like every beat of the street having to get a thumbs-up from the big house. It ain’t ideal, ’cause what if the big house starts playing its own game?
So, what we really need is a way for the one getting the cash to check for themselves that the cash hasn’t been double-dipped without having to run to the big house every time. We’re talking about keeping it real from the first handoff, not worrying about any slick moves made after. The only way to keep everyone honest is if every move is out there in the open for all to see. Instead of one big player calling the shots, everyone’s on watch, making sure the story of the cash’s journey is straight. This way, when someone’s getting paid, they can be sure that the majority is cool with how things went down, no big house needed.
Check this, we’ve got a plan that kicks off with something called a timestamp server. Imagine it like the block’s watchman, keeping an eye on the scene. This server takes a snapshot, a digital fingerprint, of a bunch of stuff that needs an official “I was here” mark. Then, it blasts that snapshot out for the whole world to see—could be in the daily news or on the digital streets of Usenet, you know?
To roll out a timestamp server that’s all about connecting directly, nigga-to-nigga style, we’re gonna lean on something like Adam Back’s Hashcash system, but not using old-school methods like newspapers. This setup is all about finding a special number that, when crunched through a hash function like SHA-256, pops out a result that starts with a bunch of zeros. The twist? The more zeros you want, the harder your computer’s gotta work to find it, but checking the work is just a one-step deal.
For this digital timekeeping network, we keep the system legit by tweaking a number in the data block until the hash shines with the zeros we need. After burning the CPU juice to hit that mark, messing with the block’s data means you’ve gotta redo all that heavy lifting. And if there are new blocks added on top, you’re looking at redoing the work for those, too, making the original proof stand solid.
The whole proof-of-working thing also cracks the code on how to keep voting fair in decisions where the majority rules. If it was just one-vote-per-IP-address, someone could game the system by snagging a bunch of IPs. Instead, proof-of-work makes it more like one-vote-per-CPU. The heaviest chain, packed with the most proof-of-work, shows where the majority’s effort is. As long as the good guys control most of the CPU power, their chain will grow quickest and leave any fakers in the dust. For a bad actor to mess with a block that’s already in the chain, they’d have to redo all the work for that block and everything after it, then still beat the honest work going on. The more blocks that pile up, the harder it gets for any sneaky moves to catch up.
To keep up with tech getting faster and folks’ changing interest in running nodes, the difficulty of the proof-of-work adjusts based on a moving average, aiming for a steady rate of new blocks. If blocks start flying out too quick, the difficulty ramps up.
The steps to run the network are as follows:
1) New niggas are broadcast to the blackchain.
2) Each nigga collects new transactions into a hood.
3) Each nigga cracks some proof-of-working for its hood.
4) When the blackchain finds a proof-of-working, it broadcasts the hood to all niggas.
5) Niggas get $NIGGAMOTO
The way banks usually keep things under wraps is by only letting certain niggas and the trusted pusher peek at the transaction details. But when you gotta shout out every deal for everyone to hear, that kind of secrecy isn’t gonna fly. Still, there’s a slick move to keep things on the low: keep who owns the public keys on the hush-hush. This way, everybody can see money moving from one hand to another, but nobody knows who’s who. It’s like how the stock market spills the beans on when and how big trades go down without naming names.
To keep things extra tight, you gotta switch up your keys for every deal, making it tough to trace back to one boss. Sure, when you’re throwing down on a deal that needs bits from all over, some dots connect back to the same player. But watch out—if someone figures out who’s behind one of those keys, they might start connecting dots to all your moves.
7. Calculations
Imagine this: Some shady character is out there trying to hustle up a fake chain faster than the legit chain. Even if they manage to speed past, it ain’t like they can just start making money appear or snatch cash that wasn’t theirs to begin with. The network ain’t dumb; it won’t take a bogus transaction as real, and the straight-up nodes ain’t about to cosign any of that mess. So, if someone’s looking to flip the script, the most they can do is try to rewind on their own moves, hoping to snatch back what they just spent.
This whole scenario is like a street race between the legit chain and the hustler chain. Think of it as a flip of the coin: heads, the legit chain jumps ahead by one; tails, the hustler chain closes the gap a bit. The odds of the hustler catching up? It’s like that old gamble where you’re trying to dig out of the hole with endless bets. There’s a way to figure the chances of them ever pulling even, turning this into a real math puzzle.
we don’t do math here.
8. Conclusion
We’re laying down the groundwork for a Nigga-to-Nigga system where electronic deals go down without needing to trust nobody. Starting with digital coins signed off by their owners gives us tight control, but that alone doesn’t stop someone from spending the same coin twice. So, we hit up this peer-to-peer network, powered by proof-of-work, to keep a public log of transactions. This log gets so complex so fast that any shady attempts to rewrite it would need more computing power than the honest folks combined.
This setup is tough in its straightforward chaos. Nodes are hustling simultaneously without much plan, no need for formal IDs because the messages ain’t for anyone specific—they just gotta get through somehow. Nodes can bounce in and out of the network, catching up on the transaction history through the proof-of-work chain as their pass back in. They throw their weight around with their computing power, backing the legit blocks by adding to them and giving the cold shoulder to the fakes. This is how we keep the network in check, making sure everyone’s playing by the rules just by sticking together.
References
[1] Black in White Space, Elijah Anderson
[2] Bible Black
[3] SATOSHI IS BLACK, Blockchain Summit
[4] Niggas in Paris, Jay-Z
