Bitcoin’s Proof of Work: A Consensus Mechanism Beneficial to Wealthy and Affluent

Bitcoin’s Proof of Work: A Consensus Mechanism Beneficial to Wealthy and Affluent

When firstly introduced, Bitcoin and the underlying technology blockchain was assessed to be truly groundbreaking, which allowed complete decentralization for the first time in history. It was an innovation brought forth in a time when the reliability of the existing financial system was being acutely scrutinized.