1.Decentralization Problem (Byzantine General Problem):

How to create a trustless system where no single entity controls the entire network?

Solution:

Distribute a copy of the ledger to every computer on the network.

2.Malicious Actor Problem:

How to prevent malicious participants from exploiting the system?

Solution:

Implement a Proof of Work (PoW) mechanism, requiring participants to perform computationally intensive tasks to validate transactions.

3.Incentive Problem:

How to motivate honest participants to sustain their involvement in the network?

Solution:

Introduce a Bitcoin reward system, where participants (miners) are rewarded with newly minted bitcoins for contributing to network stability.

4.Autonomous Operation Problem:

How to ensure the system can operate autonomously without human intervention?

Solution:

Implement a Turing virtual machine, which orchestrates and executes transactions without the need for human control.

5.Halting Problem:

How to predict if a program running on the network will terminate or run indefinitely?

Solution:

Utilize a Turing incomplete machine, which sacrifices some computational capabilities in exchange for predictability and stability.

#Bitcoin    The Ultimate Piece Of Art

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