Bitcoin, Not Blockchain – Parker Lewis

Here is the next installment in Parker Lewis’ extraordinary Gradually, Then Suddenly series of blog posts.

This one is a home run. This might be the best explainer of Bitcoin proof-of-work I’ve seen, and, in particular, how miners operate in a game-theoretical equilibrium in which they are incentivized to cooperate by providing a security and transaction ordering/timestamping service to the network or suffer economic loss.… Read more