How Bitcoin Works : Transactions, Blocks, Mining, and the Blockchain in 2024

Introduction to Decentralized Trust in the Bitcoin System The bitcoin system, unlike traditional banking and payment systems, is based on decentralized trust. Instead of a central trusted authority, in bitcoin, trust is achieved as an emergent property from the interactions of different participants in the bitcoin system. In this chapter, we will examine How bitcoin … Continue reading How Bitcoin Works : Transactions, Blocks, Mining, and the Blockchain in 2024