CategoryBlockchain Basics

I wrote this article on 25th of October last year, explaining how slavishly following the “longest chain with most cumulative work” is naive and dumb. Bitcoin: More than Miners At the time, BCH (then mostly BCC) proponents were vocally saying it was “Nakamoto consensus” and the way Bitcoin works (according to the Whitepaper)”. They decided to interpret the WP...

In this second post in my Blockchain Basics series, I’d like to discuss another term that you will encounter when studying blockchains, which is “consensus How does a blockchain reach consensus? Just like with the term “trust“, I often find that this is a hard one to explain. This has to do with the way the whole way of the blockchain arrives at the result we want (ie. a...