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by LtWorf 1374 days ago
The "innovation" in the original blockchain is that it is computationally expensive on purpose, to create "economic value". There is no computer science innovation there. Computer scientists didn't come up with the idea because it made no sense.

And it all went downhill from there.
2 comments
bowsamic 1374 days ago
No, the goal wasn't to create economic value. The goal was to make it prohibitively expensive to recreate the chain and thus fool someone else. Satoshi did not say that the purpose of PoW was to "create economic value".
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LtWorf 1374 days ago
And a digital signature couldn't be used because?
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bowsamic 1374 days ago
A digital signature alone cannot prevent double spending
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LtWorf 1373 days ago
No, going back in the list of transactions can.
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0xrips 1374 days ago
not only is this provably wrong, but the entire point is also negated through the merge which this post is about.
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