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Solving What Satoshi Couldn’t Solve

Charles Hoskinson recently said that concurrency, and smart contracts on a UTXO model, was the problem ‘Satoshi couldn’t solve’. Here, we look at the history behind this decade-old debate.

The Recap

Figure 1: The Blockchain Trilemma as exemplified by 2017-era projects.

The UTXO Model

Figure 2: Diagram of the Bitcoin UTXO model.

The Accounts Model

Figure 3: Account model like Ethereum’s.


Warming Up for the Big Game


Some Cool Cats — Minswap

Figure 4: A transaction fail on Minswap’s demo.
Figure 5: The realities of the situation.


Figure 6: From SundaeSwap’s most recent article.


Figure 7: Concurrency and Maladex.

Occam.fi and OccamX

Figure 8: The OccamX DEX.

The Demo Heard Round the World

Figure 9: The Cardano Phase-map.

Charles Hoskinson’s Insights

Occam.fi Leads the Charge



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