Who is Adam Back? Don’t panic, your study buddy is here:
The Bitcoin white paper mentions Adam Back’s Hashcash in its section on proof of work.
The key property of proof of work is that it’s “hard to compute, but easy to verify”: finding a hash that meets the requirements takes many attempts, while verifying it only takes one calculation.
Understanding this won’t make me an expert overnight, but it can help me avoid a few rookie mistakes.
$BTC 82156.01 (+1.25%)
The Bitcoin white paper mentions Adam Back’s Hashcash in its section on proof of work.
The key property of proof of work is that it’s “hard to compute, but easy to verify”: finding a hash that meets the requirements takes many attempts, while verifying it only takes one calculation.
Understanding this won’t make me an expert overnight, but it can help me avoid a few rookie mistakes.
$BTC 82156.01 (+1.25%)