8000 Update 01.md by GarthPalmer · Pull Request #413 · dergigi/dergigi.github.io · GitHub
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28 changes: 14 additions & 14 deletions _includes/way/01.md
Original file line number Diff line number Diff line change
Expand Up @@ -482,7 +482,7 @@ as though the same token can be handed from person to person.
In essence, a user can create RPOW tokens via the RPOW client software,
which takes a proof-of-work string as generated by the Hashcash software
invented by Adam Back. This string is signed by the user's private key
and subsequently registered by an RPOW server, recording that this token
and subsequently registered by a RPOW server, recording that this token
is belonging to the user's public key. The user can then pass that
token on to someone else by signing a "transfer order" to another
user's public key. The server then duly registers the token as
Expand Down Expand Up @@ -512,14 +512,14 @@ determine a chain of ownership. This allows proof-of-work tokens to be
re-used, albeit in a limited, sequential way.

While the RPOW architecture is hierarchical, i.e. its clients rely on
specialized servers, the trust users need to have in an RPOW server is
specialized servers, the trust users need to have in a RPOW server is
minimized. This is possible because the RPOW server software is run on
an IBM 4758 secure cryptographic coprocessor, a high-security
tamper-resistant PCI board that cryptographically ensures that the
software running on the server is the software that was published and
audited. This makes any RPOW server a system whose security properties
can be analyzed and evaluated by anyone. In other words, an RPOW server
is *transparent server*, which makes the RPOW system as a whole
can be analyzed and evaluated by anyone. In other words, a RPOW server
is *transparent*, which makes the RPOW system as a whole
trust-minimized. Everyone knows the code that makes the system work, as
well as the rules that are in place. 

Expand Down Expand Up @@ -750,8 +750,8 @@ Bitcoin manages to implement them in a decentralized way:
Bitcoin system. There are no sign-up forms, no central authorities
to approve or deny applications, no servers in charge of logins. In
essence, creating an account in Bitcoin is just a matter of
generating a large random number. You can even flip a coin a couple
of times, or roll a pair of dice, as long as you know what you're
generating a large random number. You can even flip a coin multiple
times, or roll a pair of dice, as long as you know what you're
doing (and your dice and coin flips are fair).
- **Record Ownership:** In Bitcoin, every full node has a
copy of the ownership records. This radical approach is a simple way
Expand Down Expand Up @@ -798,7 +798,7 @@ Bitcoin manages to implement them in a decentralized way:
block, i.e. roughly every ten minutes. Bitcoin's supply was
predetermined at its inception, and arguably, this is the most
valuable property of Bitcoin. No other asset in existence has what
Bitcoin has: an unchanging supply schedule that can not be argued
Bitcoin has: an unchanging supply schedule that cannot be argued
with.

In short, mathematics allows for the decentralization of all the
Expand All @@ -824,8 +824,8 @@ up-to-date and in sync. This is what is known as the **oracle
problem**, and proof-of-work solves it in an ingenious,
roundabout way: by using energy, and thus physics, as the base truth.
One can also think of the oracle problem as a variant of the GIGO
principle: Garbage In, Garbage Out. You have to trust whoever is keeping
the records that the records are correct. Phrased differently: you can
principle: Garbage In, Garbage Out. You have to trust that whoever is
keeping the records is doing so correctly. Phrased differently: you can
never be sure that the data at hand represents reality, except if the
reality is rooted in computation itself.

Expand All @@ -842,7 +842,7 @@ digital scarcity aren't easy problems to solve. Satoshi's breakthrough
was to find a way to solve both of these problems practically, not
academically. The first is solved by a globally
shared **timechain** that is kept in sync via a competitive lottery, the
second is solved by the **difficulty adjustment** as well as the **block
second is solved by the **difficulty adjustment** and the **block
reward halving**. Bitcoin uses the best ideas of its predecessors
(digital signatures, reusable proof-of-work, peer-to-peer networks) and
combines them in an ingenious way to create something completely new: a
Expand All @@ -868,13 +868,13 @@ that plagued digital money for decades --- *double-spending* and *digital
scarcity* --- is possible. Releasing his software into the wild set in motion a
multi-decade process that is driven by an extremely powerful incentive
structure. An unstoppable idea, embodied in code. It is this incentive structure
that drives Bitcoin's survival. And with every passing day that Bitcoin refuses
that drives Bitcoin's survival. With every passing day that Bitcoin refuses
to die, humanity is one step closer to freeing money from the capture of the
state. It will take some time for the world to come to grips with this most
powerful idea. Amusingly, time is also the reason why Bitcoin works in the first
place since the main insight Satoshi had is how to keep the [time] in a
decentralized system. Many people thought that this problem was insoluble. Turns
out that all that was missing was the right idea.
place, since the main insight Satoshi had was how to keep the [time] in a
decentralized system. Many people thought that this problem was unsolvable.
All that was missing was the right idea.

[gravity]: https://dergigi.com/gravity
[life]: https://dergigi.com/life
Expand Down
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