The Bitcoin whitepaper, explained and commented: section 6 — incentives

This is the 6th part of our series dissecting Satoshi Nakamoto’s original Bitcoin whitepaper from 2008. In part 5, we talked about how miners collect transactions to bundle them into blocks, and what happens when two miners find a “winning” block at the same time. This time, we’ll look at why anyone would actually want to be a miner: incentives! As previously, quotes…

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Raphael Meyer

Raphael Meyer

Author, KEYS to BITCOIN: learn how Bitcoin really works https://www.amazon.com/dp/1734773324 and Twitter @RaphaTheGrey