> It's a 10-year-old recombination of 20-year-old tooling. Merkle trees and hashcash. That's it. This is an unfair characterization. Every technology can be de

> It's a 10-year-old recombination of 20-year-old tooling. Merkle trees and hashcash. That's it. This is an unfair characterization. Every technology can be described as a recombination of what existed before. Bitcoin solved the distributed consensus problem in a completely new way. This was a long open problem. > There's no research, no innovation. There's a ton of blockchain motivated research going on in signature schemes, distributed consensus, formal verification, zero knowledge proofs, verifiable delay functions, game theory, governance, economics, etc.