constant on Nostr: Bitcoin uses/needs time, in order to introduce the notion of '10 minutes'. Otherwise ...
Bitcoin uses/needs time, in order to introduce the notion of '10 minutes'. Otherwise there is no way to judge the significance of PoW/difficulty.
But this artificial work construct (hashing and difficulty adjustment) acts similar.
1: Given enough difficulty and decentralization, no particular actor has the might to alter or dictate things.
2: Acces to this data is trivial because of the internet.
3: intepreting the data is only as difficult as running a node.
The result is a consensus because it is hard to lie effectively about something on which everyone can come to the same conclusion themselves
But this artificial work construct (hashing and difficulty adjustment) acts similar.
1: Given enough difficulty and decentralization, no particular actor has the might to alter or dictate things.
2: Acces to this data is trivial because of the internet.
3: intepreting the data is only as difficult as running a node.
The result is a consensus because it is hard to lie effectively about something on which everyone can come to the same conclusion themselves