Proof of Work as it Relates to the Theory of the Firm
Date: 2022-12-05
Source: https://craigwright.net/blog/academics/proof-of-work-as-it-relates-to-the-theory-of-the-firm
One of the little-known aspects of bitcoin is the nature of the proof of work system. There are many people, especially those who support a UASF or PoW change that believe a distributed system should be completed as a mesh. In this, they confuse centralised systems with centrality.