Comment by FabHK
7 months ago
> Nakamoto-style consensus is not the same thing as PoW, or even PoW+LCR
It is PoW + LCR. I refer you to Roughgarden, Foundations of Blockchains, Lectures #9: Permissionless Consensus and Proof-of-Work, item 5:
7 months ago
> Nakamoto-style consensus is not the same thing as PoW, or even PoW+LCR
It is PoW + LCR. I refer you to Roughgarden, Foundations of Blockchains, Lectures #9: Permissionless Consensus and Proof-of-Work, item 5:
> 5. Nakamoto consensus refers to the pairing of longest-chain consensus with proof-of-work sybil-resistance.
> 6. Lecture 8 shows that the only ingredient missing from a permissionless version of longest-chain consensus with provable consistency and liveness guarantees is a permissionless node selection subroutine that selects honest nodes more frequently than Byzantine ones.
Fair enough, this is just one definition. There are others. Some even piling the entire bitcoin protocol under Nakamoto Consensus umbrella (including 21M BTC cap).
I was talking about Nakamoto-style Consensus not specific to Bitcoin, more like in (6).