Couldnt a sequence be hardcoded within the bitcoin guidelines itself? Solely so and so chain can be utilized
A sequence is “hardcoded” into the bitcoin guidelines. The principles specify the chain with most “work”. That is the one chain that can be utilized. Your “so and so chain” is the “longest chain” – within the bitcoin context which means “chain with most work”.
You make an uncommon use of the time period hardcoded. Usually it brings to thoughts mounted knowledge within the supply code, however in fact the blockchain is ever rising knowledge and so cannot be hardcoded as a set fixed within the supply code. I interpret your which means as saying the selection of chain is unambiguously decided by the mounted guidelines constructed into each single copy of each Bitcoin pockets software program.
with trusted folks to start with
The first aim of Bitcoin’s creator was to create a system of money the place two folks might transact with none want for a trusted third get together. Bitcoin lets you make a cost to a second individual with none must ever belief anybody else.
What issues may this face?
The issue with belief is betrayal. often springing from lack of deep data, understanding and rigorous monitoring of these trusted. Think about the destiny of those that trusted Sam Bankman-Fried and had cash in FTX, or those that trusted the house owners of MtGox, Quadriga-Cx and plenty of others.
