Consensus

Bitcoin faces a one-of-a-kind leadership problem.

Replicating the same types of services and applications of the legacy world on Bitcoin necessitates interacting with the legacy world, giving them leverage over Bitcoin.

The reason conversations around consensus are a dysfunctional mess is not because of the people proposing changes, its because of the people refusing to listen in good faith.

A call to arms for innovation, cooperation and a change in Bitcoin’s discourse to create the means for Bitcoin to fulfill its potential. From “The Primary Issue”.

Bitcoin’s consensus mechanism ensures that work needs to be done in order for transactions to confirm and secures bitcoin in the fairest manner.

A bug resulting in the stalling of LND and btcd nodes had minimal impact — but it could have been much worse.

All roads lead to proof-of-work because it is the most efficient and fairest way to come to consensus, without having a rich-get-richer problem.

Softchains are a sidechain implementation that interact on a deeper level with consensus mechanisms, which can bring benefits and risks.

The proof-of-work consensus mechanism used in Bitcoin is an objective measure of history which cannot be changed on the whims of validators.

As politicians and environmentalists have argued Bitcoin should move away from proof of work, they miss what makes the network so innovative.