TD₿: Bitcoin's Seven Layers of Security by Robert Breedlove with Michael Saylor
TL;DR Bitcoin's Proof of Work architecture created the world's first supremely secure digital monetary network.
Hey Bitcoiners,
Adam back invented Proof of Work (PoW) to combat email spam. Satoshi took this incredible innovation and placed it a the heart of Bitcoin.
Proof of Work allows for participants in a distributed network to coordinate and come to a consensus in an honest manner by utilizing the laws of thermodynamics.
On top of that, it creates an encrypted barrier of energy that protects the network from a 51% attack, but that’s not all it does…
It also aligns incentives for people, companies, and countries to protect Bitcoin, as well as, encourages miners to spread out across the globe in search of energy resources, thus further decentralizing the network in the process.
Robert Breedlove sat down with Michael Saylor where they discuss all of the benefits that Proof of Work brings to Bitcoin’s security in this conversation (10/05/2021).
Where other “cryptos” chastise PoW as inefficient or wasteful, in reality, it is one of Bitcoin’s biggest strengths that sets it apart from everything else.
Tick tock next block,
Cory Klippsten
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Quote of the Day
“The proof-of-work speaks for itself.” - Satoshi Nakamoto, Inventor of Bitcoin
Meme of the Day
(h/t @Xentagz)