A certification authority can issue a certificate to a computing system in a peer network peer computing system. A number of cryptographic coins can be associated with the certificate. The number of cryptographic coins can be recorded by the certifying process (represented in the certificate itself) and stored in a ledger (or log) kept by each computing system in the network. Each cryptographic coin can be distinct such that it can be used (e.g., spent) in a single authentication process and cannot be reused. Thus, when a first computing system wants to communicate with a second computing system in the network, the first computing system can, as part of an authentication process, transmit a cryptographic coin to the second computing system.

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