The Bitcoin Whitepaper (plain readthrough)

The Bitcoin whitepaper! This is a plain readthrough of the whitepaper. Here is the conclusion of the Bitcoin Whitepaper, if you can understand this section, you've understood the whitepaper: "We have proposed a system for electronic transactions without relying on trust. We started with the usual framework of coins made from digital signatures, which provides strong control of ownership, but is incomplete without a way to prevent double-spending. To solve this, we proposed a peer-to-peer network using proof-of-work to record a public history of transactions that quickly becomes computationally impractical for an attacker to change if honest nodes control a majority of CPU power. The network is robust in its unstructured simplicity. Nodes work all at once with little coordination. They do not need to be identified, since messages are not routed to any particular place and only need to be delivered on a best effort basis. Nodes can leave and rejoin the network at will, accepting the proof-of-work chain as proof of what happened while they were gone. They vote with their CPU power, expressing their acceptance of valid blocks by working on extending them and rejecting invalid blocks by refusing to work on them. Any needed rules and incentives can be enforced with this consensus mechanism." As always, you can support the show by supporting and subscribing to Alpe Audio: 👉 Start learning with Alpe: https://link.alpeaudio.com/70to/d895de1 Want to learn on the go but need more depth than a podcast? Alpe is the app for you. It’s an audio education app that brings great in depth courses that are as fun as podcasts but as educational as well, a degree. Each lesson comes with summaries, additional resources, flash cards and more. You can even find Ethereum Audible on Alpe with all those additional resources. ___________________ Link to whitepaper: https://bitcoin.org/bitcoin.pdf

There are no comments yet.

Please log in to write the first comment.