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Bitcoin’s (un)common good —

Digital Currency Initiative at the MIT Media Lab Launches New Bitcoin
Software and Security Effort with Industry Leaders

Thanks to millions of open source developer hours over the past 12 years,
and a burgeoning and supportive ecosystem, Bitcoin is no longer an obscure
cryptographic toy. It is now an open-source financial network that secures
on the order of $1T of value.


As the use of Bitcoin grows, and as it becomes more deeply embedded into
our societies, the security of the network must grow and strengthen
alongside it. Yet, as a common good, there is no one single Bitcoin
protector or guardian to take on this formidable task. By design, there is
no central command. And while this presents significant logistical
challenges, it is also the distinguishing feature perhaps most unique to
Bitcoin: no central point of failure. Bitcoin's nearly-uninterrupted
operation over the years is a testament to the power of decentralization…

Article posted 7 months ago

 
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