Author: Pedro Worcel 2015-05-13 20:05:55
Published on: 2015-05-13T20:05:55+00:00
In an email exchange between Gavin Andresen and Adam Back, they discuss the issue of making a consensus that works in a decentralized fashion without weakening Bitcoin's security model. While Back believes that no one knows how to achieve this, Andresen suggests that it might be possible in the future with the development of new innovations or alternative methods that don't significantly weaken Bitcoin's security. Andresen cites the way the internet works as an example of decentralized systems that he doesn't fully understand but still work reliably. He believes that Bitcoin's proof-of-work might evolve similarly and that while it could potentially be attacked, layers of security on top of it would prevent profitable attacks. The conversation ends with Andresen's signature.
Updated on: 2023-06-09T20:41:52.542155+00:00