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#80 – Vitalik Buterin: Ethereum, Cryptocurrency, and the Future of Money
Lex Fridman Podcast
Crypto Economics - The Clever Solution That Satoshi Invented With Crypto Economics
The cypherpunks had a different use case in mind, which is that they wanted to create a fully decentralized global permission. They didn't want any authorities and they didn't even want any kind of privileged list of people. And so now the question is, well, how do you use these techniques to create consensus when you have no way of kind of measuring identities? So with proof of work, the solution is justYou publish a solution to a hard mathematical puzzle that takes some kind of clearly calculable amount of computational power to solve,. And then you solve five of those puzzles, you get five identities. And then these are the identities that we run the consent of the algorithm between.
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