What is the Main Idea?
In this project, we will design a cryptocurrency similar to ScroogeCoin. A network of 100 users will simulate the transaction processes. Initially, each user will have 10 ScroogCoins. As long as the system is running, a random transaction with a random amount (within the range of amount the user has) will be created from User A to User B. The transaction is signed by the private key of the sender. Scrooge gets notified by every transaction. Scrooge verifies the signature before accumulating the transaction. Once Scrooge accumulates 10 transactions, he can form a block and attach it to the blockchain. You are allowed to use predefined hash and digital signature libraries. Mention which libraries you used.
A designated entity “Scrooge” publishes an append-only ledger that contains all the history of transactions.
❖ The ledger is a blockchain, where each block contains transactions, its ID, the hash of the block, and a hash pointer to the previous block. The final hash pointer is signed by Scrooge.
❖ A simulation of the network, with multiple users and the randomized process of making a transaction, making each transaction reach an arbitrary user.
❖ The design and implementation of the ledger based on the concept of the blockchain (hash linked list).
❖ Upon detecting any transaction, scrooge verifies it by making sure the coin really belongs to the owner and it has not been spent before.
❖ If verified, Scrooge adds the transaction to the blockchain. Double spending can only happen before the transaction is published.
❖ For the digital signature, use any of the techniques described throughout the course.
❖ Print initially the public key and the amount of coins for each user.
❖ Scoorge should print the block under construction for each new transaction added (include the transaction details).
❖ Print the blockchain after a new block is appended.
❖ Terminate the code using the key ‘Space’.
❖ Save all the printed data to a text file upon termination.
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