Delta Charlie on Nostr: http://betanews.com/wp-content/uploads/2015/09/identity-verification.jpg Unlocking ...

Unlocking Knowledge: Bitcoin in Plain Language

This series continues to translate the original white paper by Satoshi Nakamoto to plain language. The goal is to have easily shared content, and send new people directly to nostr to read it. The original content will be posted, with the plain language below.

Please show support by sharing or sending sats.

Node - A special computer in the Bitcoin network, like a referee, that keeps enforcing the rules of a game.
Proof-of-work - The process of verifying all Bitcoin transactions are valid, and sharing it with everyone
Blockchain - The record of every Bitcoin transaction since the beginning, organized in blocks chained together
Timestamp - A record of a Bitcoin transaction, shared with the entire network

8. Simplified Payment Verification Paragraph 1
It is possible to verify payments without running a full network node. A user only needs to keep a copy of the block headers of the longest proof-of-work chain, which he can get by querying network nodes until he's convinced he has the longest chain, and obtain the Merkle branch linking the transaction to the block it's timestamped in. He can't check the transaction for himself, but by linking it to a place in the chain, he can see that a network node has accepted it, and blocks added after it further confirm the network has accepted it.


Plain Language
Imagine you're part of a club that keeps track of all the things the members do. In this club, there's a long chain of achievements, like a timeline of everyone's accomplishments.

If you want to prove to someone that you achieved something, you don't have to carry around the entire history book of the club. Instead, you can just keep a small notebook with the titles of the main chapters (block headers) of the history book.

When you want to show off your achievement, you just need to get the latest copy of these chapter titles (block headers) from the other club members. You keep asking around until you're sure you have the longest list of chapter titles, meaning you have the longest timeline.

To prove your specific achievement, you also need a special note (Merkle branch) that shows exactly where your achievement is written in the big history book. You may not have the entire book, but with this special note, you can point to the specific page where your accomplishment is recorded.

Even though you can't personally check every detail of your achievement, by connecting it to a specific place in the long history book (blockchain), you can be confident that the other club members have accepted and confirmed your achievement. As more chapters get added to the history book (blocks to the blockchain) after your achievement, it becomes even more solid and accepted by the entire club.

#bitcoin #crypto #btc #blockchain #cryptocurrency #hodl #digitalgold #decentralized #satoshi #cryptonews #satoshinakamoto #whitepaper #bitcoinwhitepaper #nostr #grownostr