Here is an amazing long-read by Tuur Demeester, in which he uses the Protestant Reformation of the 16th century as a blueprint to help grasp the magnitude of the tidal change in socio-economic trends the world is undergoing as we shift into the Information Age, and how Bitcoin factors in and acts as a catalyst during this epochal shift.… Read more
Tag: Research
A Model for Bitcoin’s Security
Last week, Hasu, James Prestwich, and Brandon Curtis released a research paper examining Bitcoin’s ability to function properly in an adversarial environment, A Model for Bitcoin’s Security and the Declining Block Subsidy.
In the paper, the authors introduce a model, which can be reduced to a simple formula, for assessing the Bitcoin protocol’s security based on a number of factors:
… Read moreWe can thus derive that EV(honest mining) EV(attack mining) is the necessary condition for Bitcoin to be secure against rational attackers.