Author: Milly Bitcoin 2015-09-01 00:02:15
Published on: 2015-09-01T00:02:15+00:00
Bitcoin is a decentralized currency that allows for transactions without the need for trust in any particular party. However, it is only a partial solution to the Byzantine general problem as users still need to trust systems such as mining and development. Once these systems are trusted, the state of the ledger becomes trustless but this does not mean everything associated with Bitcoin is decentralized. It is important to note that centralized and decentralized systems are not inherently good or bad, each having their own use cases like a hammer and screwdriver. Treating Bitcoin as a religion rather than technology detracts from its potential uses.
Updated on: 2023-06-10T21:33:42.166828+00:00