A Solution to a Distributed Computing Problem

Satoshi Nakamoto’s invention is also a practical and novel solution to a problem in distributed computing, known as the “Byzantine Generals Problem.” Briefly, the problem consists of trying to agree on a course of action or the state of a system by exchanging information over an unreliable and potentially compromised network. Satoshi Nakamoto’s solution, which uses the concept of Proof-of-Work to achieve consensus without a central trusted authority, represents a breakthrough in distributed computing and has wide applicability beyond currency. It can be used to achieve consensus on decentralized networks to prove the fairness of elections, lotteries, asset registries, digital notarization, and more.

Mastering Bitcoin - PROGRAMMING THE OPEN BLOCKCHAIN

by Andreas M. Antonopoulos

#masteringbitcoin #11