Just started reading "The Internet of Money" by Andreas M. Antonopoulos today. Got it as a recommendation here. Didn't know what to expect but wow, the insights are mind-blowing after just a few chapters.
The term "Byzantine Generals' Problem" popped up in the book. I had no clue what it meant but the author connected it to Satoshi’s work. Pretty interesting stuff.
Yeah, PoW altcoins like BCH and LTC follow Bitcoin’s approach but they aren't as secure. Bitcoin's miners need 50% to attack, while others can be vulnerable.
The Byzantine Generals' Problem is basically about several generals needing to agree on attacking when they can only communicate through unreliable messengers.
It’s less about messengers and more about consensus. If two generals send conflicting orders, you gotta choose which one to follow, just like in blockchain.
It's up to the miners' software. They keep one block and discard the other based on their view of the network. The chain they build will be the accepted one.
The proof-of-work method is a clever way to solve the Byzantine Generals' Problem. Imagine the generals trying to crack a Wi-Fi password together but needing to time it right.