Great article on the promise of Bitcoin, from UIUC alum and - TopicsExpress

Great article on the promise of Bitcoin, from UIUC alum and Netscape founder Marc Andreessen: mobile.nytimes/blogs/dealbook/2014/01/21/why-bitcoin-matters/?_php=true&_type=blogs&_r=0 Bitcoin is the first practical solution to a longstanding problem in computer science called the Byzantine Generals Problem. To quote from the original paper defining the B.G.P.: “[Imagine] a group of generals of the Byzantine army camped with their troops around an enemy city. Communicating only by messenger, the generals must agree upon a common battle plan. However, one or more of them may be traitors who will try to confuse the others. The problem is to find an algorithm to ensure that the loyal generals will reach agreement.”

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