Week 12 — Proof-Of-What?

Blockchain For Idiots Like Me

  • Timestamped append-only server— this essentially refers to the cryptographic portion and the timestamp function of blockchain. This is interwoven throughout all of the blockchain.
  • Auditable database — This refers to the ability for anyone to track the validity of the information placed onto the blockchain
  • Consensus — One of the most important parts of blockchain, getting people to agree verify the information to be put onto the blocks
The 3 buckets

Key Innovation Of Satoshi Nakamoto’s Trustless System

What is Proof-Of-Work?

Cons

Proof-Of-Stake

The Game Continues

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store