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Based on my cursory understanding of the topic, The Merkle tree has been around for a while, but Satoshi figured out how to use that to achieve decentralization
by deepGem 9y ago
Based on my cursory understanding of the topic,
The Merkle tree has been around for a while, but Satoshi figured out how to use that to achieve decentralization, and consensus building. If you ask me, that's quite revolutionary.
Yes, the blockchain is just a gigantic DAG, but adding and deleting nodes on the graph is where the crux of the matter is I guess. I am starting to understand the logic from a currency perspective. Still trying to understand how the same translates to smart contracts.
- throwaway613834 9y agoIs there more to consensus and decentralization than just pinging a few other computers and picking the longest chain you find? And proof of work is literally just the hash having a certain number of zero bits, right? Definitely a neat idea but hardly revolutionary if that's all there is to it.
- mbrock 9y agoSomething can be "revolutionary" and made up of pieces not in themselves groundbreaking. Linux was revolutionary and it was just a Unix clone for IBM PCs.