206.6 Lesson - satoshisBreakthrough

Screen: satoshisBreakthrough

Headline: Satoshi's Breakthrough

Reward: 3

Text: Satoshi's solution to the double spending problem was a breakthrough in computer science and distributed systems. Until Bitcoin, many believed that it would be unsolvable.

His solution allowed Satoshi to develop a new electronic cash system that for the first time made it possible for people to send digital money directly to each other, without needing a bank or other organization to help.

=================================================================

QUIZ

Question: Which problem did Satoshi have to solve to create Bitcoin?

Answer: The double spending problem

Feedback: Good job. Bitcoin uses a proof-of-work consensus mechanism where transactions are batched into blocks and chained together to a blockchain. This way, every user knows that every coin is only spent once

Correct: true

Answer: The problem of double coincidence of wants

Feedback: Not quite. The double coincidence of wants is a problem of barter that can be solved with money. Try again

Correct: false

Answer: The halving problem

Feedback: Hah no. The halving in bitcoin is not a problem, but part of the solution that Satoshi designed! More on that in Chapter 302. Try again!

Correct: false