3 ms·
It's actually not a new kind of distributed algorithm: 1. Peer-to-peer algorithms: BitTorrent would like a word with you. 2. Distributed consensus: Paxos woul
by mayank 9y ago
It's actually not a new kind of distributed algorithm:
1. Peer-to-peer algorithms: BitTorrent would like a word with you.
2. Distributed consensus: Paxos would like a word with you.
3. Proof of work: hashcash would like a word with you.
That said, I find the Bitcoin paper to be a delightful synthesis of a bunch of well known ideas.
- imnotatwork 9y agoThe total is much more than the sum of the parts in this case. You get whole new dynamics that were unpredictable from the single parts. Like saying that the first calculator was not a new kind of machine because valves existed and people made calculations before.
- cs702 9y agoPrior to Bitcoin, there was NO distributed algorithm capable of maintaining an agreed-upon blockchain of transactions in perpetuity, in a manner resistant to attack by fraudulent nodes. Such an algorithm didn't exist prior to Bitcoin.