4 ms·
Not consensus, probabilistic consensus. And not 50% of participants, 50% of computing power. Those are critical distinctions.
by amscanne 9y ago
Not consensus, probabilistic consensus. And not 50% of participants, 50% of computing power. Those are critical distinctions.
- darawk 9y agoBut distinctions that make it no less revolutionary.
- pishpash 9y agoProbabilistic consensus was not known before bitcoin? Somehow I highly doubt it.
- kolinko 9y agoOne that was resistant to sybil attacks? Bitcoin was the first system to do that as far as I know. Before bitcoin you would be unable to create a virtual currency without a central authority. Satoshi's algorithm was a new invention in 2009, although it's parts - like proof of Work - were invented in 1990s.
- darawk 9y agoProbabilistic, byzantine fault tolerant consensus was absolutely not known before Bitcoin.
- eternalban 9y agoExactly. Consensus by brute force. It is a curiously anti-democratic design.