So basically, the base layer of the #Bitcoin block chain protocol is (responsible for) the security and decentralization.
Am I getting this right?
Discussion
Yes.
It gains security from the hashing algorithm and difficulty adjustment and decentralization from the distribution of energy sources across the planet from which to produce those hashes. These two attributes (and others) make the Bitcoin mining an egalitarian and fair game of ordering Bitcoin transactions to form the blockchain.
Yes. And not scalability. It is agreed on by most people that it’s not possible to have all 3, scalability, security and decentralization. You can have any combination of 2 of those traits, but not 3. Those are the tradeoffs.
On more thing the other didn't mention yet. The decentralized nodes can decide which software they run, i.e. making them vote for the rules of the network. This is what makes sure, that bitcoin will stay limited to 21 million BTC (it's very unlikely a majority would want to change that).
That's a good point. There's security of the asset via mining nodes and security of the rules via the non-mining full nodes. And decentralization of both node kinds matter.
Yes, that's how #Satoshi designed it. The Virtuous! full nodes and #Bitcoin loyalist enforce the Bitcoin protocol.
They are also responsible for making sure that the protocol remains True! to Satoshi's design.
Including the actions of #miners and #developers. By accepting, rejecting or replacing their work..🗡️🦖🦍🤔
When are you going to dance again?..🧡😊
#Bitcoin #TBM
You got it. Full nodes reach consensus and verify transactions are legitimate. Mining nodes create blocks that confirm the UTXOs and the world keeps spinning