Author: Gavin Andresen 2015-05-13 15:41:16
Published on: 2015-05-13T15:41:16+00:00
In an email conversation between Adam Back and Gavin Andresen on May 12, 2015, they discussed the difficulty of creating a decentralized consensus mechanism that doesn't compromise Bitcoin's security model. They agreed that proof-of-work is currently the best option, but that another innovation might be discovered in the future. Andresen pointed to the way the Internet works as an example of a decentralized system with layers of security that prevent profitable attacks. He suggested that Bitcoin's proof-of-work might evolve similarly, with additional layers of security making it difficult for attackers to succeed.
Updated on: 2023-06-09T20:40:10.571507+00:00