Bitcoin & Blockchain Consensus Explained for Beginners (Intro to Crypto)
How does a network of decentralized computers come to an agreement on what to add to the blockchain? And what keeps anyone from adding false information? In this video, we'll discuss exactly that!
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00:00 Introduction
00:13 Bitcoin Consensus
01:12 Why is consensus important?
01:42 Trustless system
02:23 Consensus model
02:48 How do we reach consensus?
03:36 Financial incentives
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