June 16, 2024

“Private blockchain” is just a confusing name for a shared database

Banks and financial institutions seem to be all over the blockchain. It seems they agree with the Bitcoin community that the technology behind Bitcoin can provide an efficient platform for settlement and for issuing digital assets. Curiously, though, they seem to shy away from Bitcoin itself. Instead, they want something they have more control over and doesn’t […]

Bitcoin course available on Coursera; textbook is now official

Earlier this year we made our online course on Bitcoin publicly available — 11 video lectures and draft chapters of our textbook-in-progress, including exercises. The response has been very positive: numerous students have sent us thanks, comments, feedback, and a few error corrections. We’ve heard that our materials are being used in courses at a few […]

Analyzing the 2013 Bitcoin fork: centralized decision-making saved the day

On March 11, 2013, Bitcoin experienced a technical crisis. Versions 0.7 and 0.8 of the software diverged from each other in behavior due to a bug, causing the block chain to “fork” into two. Considering how catastrophic a hard fork can be, the crisis was resolved quickly with remarkably little damage owing to the exemplary […]

The story behind the picture of Nick Szabo with other Bitcoin researchers and developers

Reddit seems to have discovered this picture of a group of 20 Bitcoin people having dinner, and the community seems intrigued by Nick Szabo’s public presence. It’s actually an old picture, from March 2014. I was the chief instigator of that event, so let me tell the story of how that amazing group of people happened […]

Bitcoin faces a crossroads, needs an effective decision-making process

Joint post with Andrew Miller. Virtually unknown outside the Bitcoin community, a debate is raging about whether or not to increase the maximum size of Bitcoin blocks. Blocks are created in Bitcoin roughly once every ten minutes and are currently limited to a size of 1 megabyte, putting a limit on the rate at which […]