How do you build trust without a central party?  Why would parties behave in such a system?

This article introduces a series describing a framework I find useful when thinking about how a distributed consensus ecosystem works.

Appreciate any feedback, whether technical, or stylistic!!

-crusyn

https://crusyn.com/2017/12/29/stakeholders-in-consensus/

PS: to get rull res images: https://bitcointalk.org/index.php?topic=2191513.msg22013020#msg22013020

https://crusyn.com/2017/12/29/stakeholders-in-consensus/

We hear the word "blockchain" a thousand times a day and sometimes the true innovation: distributed consensus, is not given the publicity it deserves. Consensus is more than just mining code.

In this series I introduce a methodology to explore the breadth of consensus. I start by dividing the different consensus behavior into three categories: rules, history, and value, and then goes on to describe how these three categories come together to do something revolutionary: building trust without a central party.

Appreciate any feedback, whether technical, or stylistic!!

-crusyn


PS: to get rull res images: https://bitcointalk.org/index.php?topic=2191513.msg22013020#msg22013020

Thank you @DannyHamilton and @achow101.  I have made the following changes as suggested:

-Fixed phrasing to use "greater than or equal to the sum of the value of inputs"
-Added "d" to "ripem" hash name, fixed in the illustrations
-Swaped the locking and unlocking scripts.  You are right, the scriptPubKey is commonly called the locking part of the script
-Updated to correct work "throw an error"
-changed commission to transaction fee
-noted that this example considers the p2pkh but other scripts are possible.

Please let me know what the errors are so that I can correct them for future readers!

-crusyn

Hey-

Yeah I have to figure out how to make the wordpress template more user friendly, any suggestions about how to do it are welcome.

You can get the full res images by getting rid of the querystring of the image URL when you click open image in a new tab/new window:

For example in:

https://crusyn.files.wordpress.com/2017/08/01-currenttransaction3.png?w=525

drop the "?w=525"

And you will get the full res:

https://crusyn.files.wordpress.com/2017/08/01-currenttransaction3.png

Does that help?

-crusyn

Thanks for the comments!  Seriously appreciate the feedback.  I'll take a look over the next week.

-crusyn

https://crusyn.com/2017/08/28/bitcoin-transactions-visual-guide-json/

I put together this post after having a tough time figuring out bitcoin transactions on a technical level myself. I tried making it easy by putting together sequential illustrations to support my prose.

You can get the full res images by getting rid of the querystring of the image URL when you click open image in a new tab/new window (see post below for details).

Appreciate any feedback, whether technical, or stylistic!!

-crusyn