See Also
ELI5 What is Nakamoto consensus?
Cryptocurrencies are an application of the more general distributed computing field of research. While Bitcoin’s potential impact on financial markets sent it straight to the spotlight, the reality is that the technical concepts behind Bitcoin have long been the subject of intense research. Many peer-to-peer technologies came before Bitcoin and attempted to solve various different […]
How decentralized is Bitcoin? How can Bitcoin be secure if nobody controls it?
Bitcoin’s decentralized consensus system is the key to understanding how it can be secure without anyone in particular having to verify every transaction. In the same article, we’ve discussed the particulars of the Byzantine Generals’ problem and how Bitcoin solved this classic dilemma when applied to digital currencies. Here we will discuss what controlling Bitcoin […]
History and importance of Open Source Software in cryptocurrency development
Open Source Software (OSS) plays a critically important role in the development of cryptocurrencies, but it is almost always ignored or taken for granted by most crypto users. It’s as if the transparency and collaborative spirit that OSS provides had always been there, available to us whenever we needed it. But the truth is far […]
ELI5 : What is Proof of Trust (PoT)?
Proof of Trust is a consensus mechanism where users “stake” the trust they’ve earned in a network in order to verify cryptocurrency transactions. In a proof of trust system, users will earn a virtual value called “trust” every time they acquire a role in the ecosystem. A highly trusted node will be able to verify […]