BitPLATES - Bitcoin Backup on Nostr: Four pillars of Bitcoin: Ledger, mechanism, risk, reward. 1. Ledger (Blockchain) - ...
Four pillars of Bitcoin:
Ledger, mechanism, risk, reward.
1. Ledger (Blockchain) - Distributed, decentralised, synchronised database.
2. Mechanism (Proof-of-work) - Open-source, decentralised, cryptographic consensus algorithm.
3. Risk (Difficulty) - Thermodynamic requirement for the extrinsic commitment of energy, providing computational immutability.
4. Reward (Bitcoin) - Native, intrinsic asset, rewarded during game-theoretical competition.
Would anyone add, remove, or change anything here?
Ledger, mechanism, risk, reward.
1. Ledger (Blockchain) - Distributed, decentralised, synchronised database.
2. Mechanism (Proof-of-work) - Open-source, decentralised, cryptographic consensus algorithm.
3. Risk (Difficulty) - Thermodynamic requirement for the extrinsic commitment of energy, providing computational immutability.
4. Reward (Bitcoin) - Native, intrinsic asset, rewarded during game-theoretical competition.
Would anyone add, remove, or change anything here?