The People Will See The Value In Bitcoin’s Proof-of-Work
It is evident that proof-of-work is a pure representation of free-market forces as opposed to the control of proof-of-stake.This is an opinion editorial by Ulric Pattillo, contributor at Bitcoin Magazine and co-author of the Declaration of Monetary Independence.A Note From The AuthorIt has been a bit over one year since my first article in Bitcoin Magazine. My heart was compelled to write what I felt my friends and family needed to hear. My writings are not overly technical or featuring groundbreaking news. My goal has been to create timeless content that makes multiple cases for Bitcoin....
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To understand Bitcoin, people need to understand Proof-Of-Work. It might be the most crucial aspect of the network. Proof-Of-Work provides security, resolves the issuance problem, and guarantees “a ledger of ownership and transactions that is beyond dispute.” And that’s just the beginning. How does Proof-Of-Work accomplish all that? That’s what this section is all about. […]
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