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Bitcoin is not the first solution to Byzantine fault tolerance. It's not the best solution either.
by rspeer 9y ago
Bitcoin is not the first solution to Byzantine fault tolerance. It's not the best solution either.
- ric2b 9y agoBut it's the first one that's resistant to Sybil attacks without requiring centralization, is it not?
- rspeer 9y agoOkay, that is true. I am just not satisfied with proof-of-work as a solution there. It makes Sybil attacks unreasonably expensive, by making the entire operation of the chain even more unreasonably expensive. I do like the math behind Bitcoin but I wish it had just remained as a proof of concept.