Bitcoin Prep Work: Bitcoin’s Academic Pedigree

What I Read

I read Bitcoin’s Academic Pedigree.

Notes

Was very interesting to trace Bitcoin back to its original ideas. This paper was not very technical, but was rather a sort of technical recap. Any advanced topics were spelled out quite easily, even something seemingly complicated like Blockchain is described in very simple language.

This is definitely a paper that I will refer back on in the future. There is just so much history, I am sure I missed something.

The most interesting thing I learned was about hashcash. I didn’t realize that the solving of the puzzle itself, was the cash, in this protocol. It was cool seeing how Bitcoin was adopted to include proof-of-work, and the coinage/cash element was a complete separate part of this element.

Also, reading about Blockchains as a separate entity, with the paper evaluating the usage of a Blockchain among a consortium of banks, as the small number of parties would not need Nakamoto consensus.

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