Who is Adam Back? Don’t panic—the class rep is here with the answer:
The Bitcoin white paper cites Adam Back’s Hashcash in its section on proof of work.
Hashcash uses computational costs to prevent bulk sending. Bitcoin uses the same idea to determine who gets to produce blocks and to reward miners.
Knowledge may not make me rich right away, but it can help me avoid a few pitfalls.
$BTC 83100.15 (+2.02%)
The Bitcoin white paper cites Adam Back’s Hashcash in its section on proof of work.
Hashcash uses computational costs to prevent bulk sending. Bitcoin uses the same idea to determine who gets to produce blocks and to reward miners.
Knowledge may not make me rich right away, but it can help me avoid a few pitfalls.
$BTC 83100.15 (+2.02%)