#19 – Logan Chipkin: Understanding Economics
Arjun Khemani Podcast
The Benefits of Bitcoin
The key distinguishing feature between Bitcoin and other cryptocurrencies is that Bitcoin uses what's called proof of work consensus mechanism to secure the distributed ledger. If you wanted to attack the Bitcoin network or try to double spend your Bitcoin you would have to expend an enormous amount of computational resources in order to do so. With proof of stake it's basically the more of the cryptocurrency you own the more influence over the network you have.
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