Published on November 4, 2014 by
Bitcoin has taught us all a number of lessons about the nature of decentralized systems. Many of Bitcoin’s most innovative technologies arise directly from the challenges created by such systems – mining is a distributed issuance mechanism, the blockchain itself is a distributed trust mechanism – but some things, it seems, we still have to figure out via internal squabbling and the painful process of establishing a consensus manually. One such issue is exactly how to denote Bitcoin transaction amounts.
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