Having a group of strangers agree on the truth of something despite not being able to trust one another has been a difficult question for a long time – and it’s why global finance has always relied on a few trusted sources of truth like banks. Bitcoin was the first to solve this problem in a practical way.
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Having a group of strangers agree on the truth of something despite not being able to trust one another has been a difficult question for a long time – and it’s why global finance has always relied on a few trusted sources of truth like banks. Bitcoin was the first to solve this problem in a practical way.
The Bitcoin network operates on a set of rules. These rules govern things like making sure balances don’t spend more than they have, as well as other things like how many bitcoins can be created. Every time there is a new transaction, nodes check to make sure the transaction follows the rules, then pass it along to other nodes they are connected to.
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