Bitcoin is a protocol which maintains a distributed ledger of information whose usefulness is best summarized by a problem it solved. Notably that of the Byzantine General who wanted to communicate with his lieutenants, some of whom he could not trust. He needed to take the castle the next day with all his lieutenants acting… Read More »
A blockchain is often referred to in cryptocurrencies as a ledger.
Blockchain provides a solution to the Byzantine General’s Problem. In this problem, several army factions surround a castle they hope to sack. A general leads each faction and one general is the lead general. Only a simultaneous attack ensures victory. Also, since the factions surround the castle, they are dispersed, making centralized command difficult. The… Read More »