Principles of Bitcoin: Difference between revisions
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Principles of Bitcoin |
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* '''Fungible:''' All coins are equal and should be equally spendable. | * '''Fungible:''' All coins are equal and should be equally spendable. | ||
* '''Irreversible Transactions:''' Confirmed blocks should be set in stone. Blockchain History should be immutable. | * '''Irreversible Transactions:''' Confirmed blocks should be set in stone. Blockchain History should be immutable. | ||
== See Also == | |||
* [[Prohibited changes]] | |||
Revision as of 16:28, 25 April 2016
Principles of Bitcoin
All changes and upgrades to the protocol should strive to maintain and reinforce these Principles of Bitcoin
- 21 million coins.
- No censorship: Nobody should be able to prevent valid txs from being confirmed.
- Open-Source: Bitcoin source code should always be open for anyone to read, modify, copy, share.
- Permissionless: No arbitrary gatekeepers should ever prevent anybody from being part of the network (user, node, miner, etc).
- Pseudonymous: No ID should be required to own, use Bitcoin.
- Fungible: All coins are equal and should be equally spendable.
- Irreversible Transactions: Confirmed blocks should be set in stone. Blockchain History should be immutable.