Blockchain – Part 2 – The 51% hack and the AWS Solution
Blockchain – Part 1 – a Foundation of Distrust Proof of Work In Part 1, I discussed the proof of work algorithm which involves creating a cryptographic hash that would require approximately 10 minutes of compute time for every block that is added to the blockchain. The problem with this mechanism is that for every
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Mutual Suspicion In his 1982 PhD thesis entitled “Computer Systems Established, Maintained, and Trusted by Mutually Suspicious Groups” and subsequent essays including “Achieving Electronic Privacy” some ten years later, David Schaum discusses the need for information sharing, but also the need for privacy. Banks need to be able to verify banking transactions such as purchases;
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