Before the Bitcoin protocol was invented, most computer scientists thought a system like Bitcoin was impossible because of a famous problem in computer science called the Byzantine Generals Problem. The problem, in a nutshell, is how to coordinate among distributed nodes to come up with a consensus that is resistant to attackers who are trying to undermine that consensus. A significant component of the solution is the proof-of-work algorithm, which is the main purpose of so-called Bitcoin miners. The mainstream press has completely ignored the importance of this computer science breakthrough.

cdixon tumblr, Bitcoin and the Byzantine Generals Problem Sunday, December 15, 2013 @ 10:45pm