Post
Topic
Board Bitcoin Discussion
Re: The essential attributes of Bitcoin:Bitcoin is a database.
by
valentine wheeler
on 15/07/2021, 07:56:08 UTC
Digital currency is only a form of value information, which perfectly realizes the value transmission of the network.

The purpose of Bitcoin is to establish a decentralized electronic digital peer-to-peer (P2P) payment system to prevent the reuse of digital assets. Rather than a database, this has been explained in Satoshi Nakamoto's white paper. Bitcoin may, as you said,bitcoin use the collection and application of knowledge from multiple disciplines, but they are all for one purpose.

I don’t deny that as a decentralized data storage module, it is the underlying technology of blockchain , I don’t agree with this. Blockchain is not equal to Bitcoin.


Bitcoin realizes value transmission without relying on trusted intermediaries.


It can be analyzed from the following aspects

  • The Bitcoin network maintains a single source of truth and a set of shared rules (consensus agreement) between legally independent entities. No one can tamper with, even for 51% attacks, because the cost of doing evil is very high.
  • The Bitcoin network can be accessed from anywhere in the world. Its borderless nature is not restricted by capital controls. As a distributed network, it is not maintained by a central government. It can make transactions more convenient and anonymous.
  • Bitcoin can resist censorship. The network has strong anti-attack capability. Moreover, the network is reliable.


The above content seems to have nothing to do with the database, I think the angle of the problem may not overlap with you, it is two parallel lines. But in turn, let's consider what is a database?

https://www.oracle.com/database/what-is-database/


My final point is that if Bitcoin is a database, it is somewhat far-fetched, I still respect Satoshi Nakamoto's explanation.