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Bitcoin Whitepaper
12. Conclusion twitter.com/atomicbtc/status/1...
The white paper proposed a system that would allow online transactions without relying on trust. Bitcoin is a currency created by signatures that provide ownership, but it is incomplete without double-spending prevention. twitter.com/atomicbtc/status/1...
To solve the double-spending problem, a peer-to-peer network that discloses transaction history through proof-of-work was proposed, and if honest participants control most of the CPU power, it becomes impossible for an attacker to attack it. twitter.com/atomicbtc/status/1...
The robustness of this network lies in its amorphous simplicity.
(Simplicity of the system, simplicity of code)
Nodes operate simultaneously without anyone's coordination or coordination.
There is no need to identify them because messages are propagated as they are delivered, not along a designated path, and nodes can leave and rejoin the network. Transactions that occurred when leaving the network are trusted through proof-of-work and accepted when joining. twitter.com/atomicbtc/status/1...
Nodes can verify whether a block is valid and accept or reject it after the proof of work has been done with CPU power. All these rules are achieved through consensus. twitter.com/atomicbtc/status/1...
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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