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RE: Bits and Pieces - Decentralized Technology is Key

in #bitsandpieces7 years ago

Great comment. Thanks. The Bitcoin code is not the secure part, it is that someone would have to persuade a couple thousand miners to change over and adopt a code with fallibilities within. The distributed and of this ledger is like taking a bank inside out spreading the fragments everywhere in the world. But, each fragment would contain every transaction that bank had every made (and all copies have to match). That is the genius of the distributed ledger.

Another example would be if someone wanted to edit one of Shakespeare's works. Because they exist in many personal libraries and public ones. Then there are private homes that have them anonymously. How would a hacker get into every home and library and flawlessly edit all copies? This is what I mean by unhackable. Not impossible but highly unlikely. Pleasant day!

I didn't use the Bl....word because that is not the heart of the security!

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A couple thousand is all they'd have to round up? Hmmm...

Very informative reply. Thanks!

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