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RE: Open letter to Fuzzy, Steemit, and BeyondBitcoin
I know you may think it's obvious, but you didn't state why pfunk.
Is it because each block is signed by a particular witness unlike Bitcoin?
I know you may think it's obvious, but you didn't state why pfunk.
Is it because each block is signed by a particular witness unlike Bitcoin?
Someone with enough knowledge to make a claim that something is or isn't a blockchain would take the hint.
The point I'm making is the block I linked, that included his comment saying that Steem could have been around in the 1970s, contains a reference block_id which includes a hash of the previous block.
The first 4 bytes of the block_id is the hexadecimally encoded block number and the following data is a truncated hash of the block.
Blockchains are created and verified by "chaining" together a series of data blocks that include cryptographic hashes to the previous block. The "chains" between old blocks and new are mathematically strong crypto hashes. Any attempt for a single party in a decentralized ledger to change transaction data in an old block will fail because it breaks verification of the chain.