this post was submitted on 30 Sep 2025
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What's the original invention you're thinking of?
I struggle to think of anything where it's the best system, that's true. Even crypto works better other ways.
Ah. Well, it has the advantage over cash that you can't counterfeit it, and the advantage (or "advantage" depending on who you ask) over wire transactions that no central authority controls it.
I've also heard people mention Merkle trees, which are an old concept of which blockchains are a special case, but nobody thought to use them for Byzantine-fault-tolerant networks until Bitcoin.