The Bitcoin Fairness Protocol: A masterclass in trust?
By Collin Rukundo
Created as a response to the global financial crisis that swept the world in 2008, Bitcoin emerged as a “trustless” monetary system and worthy solution to the erosion of trust in traditional institutions like banks. Trustless does not mean devoid of trust. It simply means that trust is not a requirement and you can transact with people you don’t know or trust because the system prevents cheating. In this case, trust is an add-on, or a nice-to-have.
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