ETH Is The High-Quality Liquid-Asset Of Crypto | ZeroHedge
Authored by Omid Malekan via Medium.com,
Satoshi Nakamoto had multiple insights, but the most profound may have been the use of circular logic to address an unsolved problem in the decades old field of distributed consensus.
Before Bitcoin, there was no known way to secure a permissionless system where participants were free to come and go. Nakamoto Consensus does it with incentives, the economics of which are circular.
Why is the decentralized Bitcoin network secure? Because the (more…)