Chapter
The Security of Bitcoin's Fundamentals
49:56 - 55:55 (05:59)
The security of Bitcoin's network relies on its computer science layer, which requires 51% computational power to attack and prevent double-spending. However, improving hardware can pose a threat to the network's security, so specialized hardware is designed and used.
Clips
This podcast episode discusses how Bitcoin ensures security through a fundamental layer of computer science that requires 51% of the computational power to attack the network, and clarifies the misconception that miners can change the existing ledger.
49:56 - 51:38 (01:42)
Summary
This podcast episode discusses how Bitcoin ensures security through a fundamental layer of computer science that requires 51% of the computational power to attack the network, and clarifies the misconception that miners can change the existing ledger.
ChapterThe Security of Bitcoin's Fundamentals
Episode#244: The Quiet Master of Cryptocurrency -- Nick Szabo
PodcastThe Tim Ferriss Show
This podcast discusses the history of money, from shells to paper currency, including the era of private banking where banknotes were backed by gold.
51:38 - 53:22 (01:44)
Summary
This podcast discusses the history of money, from shells to paper currency, including the era of private banking where banknotes were backed by gold.
ChapterThe Security of Bitcoin's Fundamentals
Episode#244: The Quiet Master of Cryptocurrency -- Nick Szabo
PodcastThe Tim Ferriss Show
Marcus and Meher explain how proof of work functions in the Bitcoin network and how it can handle increase in computing power with the use of specialized hardware.
53:22 - 55:55 (02:33)
Summary
Marcus and Meher explain how proof of work functions in the Bitcoin network and how it can handle increase in computing power with the use of specialized hardware.