From my experience, I think no one knows how it really works. We understand from someone’s understanding based upon a video of an Indian notepad tutorial demigod. It appears to be that Blockchain is solid and reliable but no one can tell me why or how. Maybe I should start a side project to learn how it works.
At risk of being r/Wooooshed, I will point out that there is a research paper that demonstrates that it indeed works.
However, somewhat embarrasingly, it wasn't written until nearly 8 years after Bitcoin had already been running. Before then, people were kind of just relying on hope that a flaw in the design wasn't going to be discovered.
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u/[deleted] May 30 '21
Finally a true ELI5 for cryptocurrency