SirToshi’s Bitcoin (BSV) Academy
SirToshi’s BSV Academy.
All learning about Bitcoin (BSV) exists between its starting point & understanding SHA256.
The central starting point of all digital networks should make them economically worthless, security offerings, because if a network can be started by someone, then the same can also be started by someone else anywhere, at any time, meaning an infinite supply & therefore have an economic value of zero. However, the Bitcoin White Paper was released before the network was started, which made the starting point common. This little-known fact is what differentiates the Bitcoin network from all other crypto’s that are currently listed on any Coin Market.
A central start point should make a digital network a security. However, with a common start point and economic competition being introduced through Proof of Work applied to SHA256, it can be classified as a commodity data protocol.
A network is either centrally controlled or economically competitive. There is no middle ground.
A digital network can only remain a commodity network if it is constructed using these 5 common principles:
1) A fixed supply — so no one controls it.
2) A locked protocol — so anyone can build on it & no one controls it.
3) Infinite scale — so no restrictions or limitations can be manufactured on it.
4) Economic competition — so the market is open to all.
5) Common accountability — so all users & developers of the network are equally accountable to one another. This is done with a chain of digital signatures.
This takes a little more time to explain because it involves understanding SHA256, which I have attempted to explain as simply & succinctly as possible here…
SHA256 on 1x A4
SHA256 is an abbreviation for: Secure Hash Algorithm 2^ 256 (SHA256).
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