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No, that its not the problem that bitcoin solves. You can do distributed consensus just fine without a block chain - if you have to make a choice between two op
by danbruc 4y ago
No, that its not the problem that bitcoin solves. You can do distributed consensus just fine without a block chain - if you have to make a choice between two options, everyone broadcasts a vote for one of the options and the option with the most votes is the accepted option.
The problem that bitcoin solves is that you can not prevent me from casting a million votes because the system is anonymous - or pseudonymous if you want - and therefore there is no list of participants that would prevent casting more than one vote. This is called a Sybil attack.
Bitcoin's solution - and similarly that of other block chains
- is to make casting a vote expensive, either in terms of computational resources or owned tokens or whatever.
- CPLX 4y agoCompared to paper ballots it makes casting a ballot cheaper, more opaque, and less accountable.
- kayamon 4y agoBut immune to fraud. Conservation of energy proves the vote happened without manipulation.
- CPLX 4y agoThat’s a ludicrous argument I am not even sure where to start. What exactly is the mechanism that proves that each vote registered by the system is in fact an accurate recording of the registered voting preference of an eligible voter?