Expatriotic on Nostr: _Good Morning_ ☕ 📖 🌞 `Cryptodynamic Principles` - **Cryptodynamics**: Term ...
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`Cryptodynamic Principles`
- **Cryptodynamics**: Term for Bitcoin's fundamental principles, distinguishing it from other technologies.
- **Definition**: Combines cryptography with the study of forces securing Bitcoin transactions.
- **Principles**:
- **Human Security**: Based on economically rational human actions.
- **Risk Sharing**: Distributes risk among participants.
- **Energy Sinking**: Uses energy to secure against censorship.
- **Power Regulating**: Balances network power.
- **Interdependence**: These principles are mutually dependent for Bitcoin's security.
- **Cryptodynamic Security**: Essential for a technology to be considered Bitcoin; absence disqualifies it.
- **Violations**: Permissioned blockchains, pure PoS, and subsidy-reliant systems fail these principles
**Cryptoeconomics by [Erik Voskuil](https://github.com/evoskuil).**
*The book can be found on [GitHub](https://github.com/libbitcoin/libbitcoin-system/wiki/Cryptoeconomics).*
The rest of the summarized chapters are at https://expatriotic.me
`Cryptodynamic Principles`
- **Cryptodynamics**: Term for Bitcoin's fundamental principles, distinguishing it from other technologies.
- **Definition**: Combines cryptography with the study of forces securing Bitcoin transactions.
- **Principles**:
- **Human Security**: Based on economically rational human actions.
- **Risk Sharing**: Distributes risk among participants.
- **Energy Sinking**: Uses energy to secure against censorship.
- **Power Regulating**: Balances network power.
- **Interdependence**: These principles are mutually dependent for Bitcoin's security.
- **Cryptodynamic Security**: Essential for a technology to be considered Bitcoin; absence disqualifies it.
- **Violations**: Permissioned blockchains, pure PoS, and subsidy-reliant systems fail these principles
**Cryptoeconomics by [Erik Voskuil](https://github.com/evoskuil).**
*The book can be found on [GitHub](https://github.com/libbitcoin/libbitcoin-system/wiki/Cryptoeconomics).*
The rest of the summarized chapters are at https://expatriotic.me