Thermodynamics & Blockchain, part 2. Proof of Stake

The solution we propose begins with a timestamp server. A timestamp server works by taking a hash of a block of items to be timestamped and widely publishing the hash, such as in a newspaper or Usenet post

Satoshi Nakamoto 2008 see

The community simply hit ‘undo’, jumping back to the point in the blockchain before the hack occurred and starting anew from there; all of the transactions made after the bug was exploited — but before the fix was implemented — were effectively cancelled.

Image by Jack Tanner. 2019



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