Chapter
Crypto's powerful idea of group consensus
43:57 - 47:53 (03:56)
The idea of groups reaching consensus in a decentralized yet formulaic way is a powerful idea from cryptocurrencies, as disputes in traditional contracts are interpreted by lawyers, making the process messy and expensive, while smart contracts can use cryptography to check for the presence of two out of three keys.
Clips
The concept of groups reaching consensus in a decentralized yet formulaic way is one powerful idea from crypto, as smart contracts can use cryptography to check if consensus has been reached rather than costly interpretations by lawyers in contract disputes.
43:57 - 47:53 (03:56)
Cryptography
Summary
The concept of groups reaching consensus in a decentralized yet formulaic way is one powerful idea from crypto, as smart contracts can use cryptography to check if consensus has been reached rather than costly interpretations by lawyers in contract disputes.