Cryptocurrency Q&A
Why does bitcoin rely on a centralized sequencer?
Why does bitcoin rely on a centralized sequencer?
Stefano
Sun Sep 08 2024
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6 answers
1606
Excuse me, could you clarify something for me? The paragraph you've mentioned seems to be a bit confusing, as it suggests that Bitcoin relies on a centralized sequencer, which is actually not the case. Bitcoin is a decentralized digital currency, meaning it doesn't rely on any central authority or sequencer to manage transactions. Instead, transactions are verified and recorded by a decentralized network of nodes, known as miners, who compete to solve complex mathematical puzzles in order to validate transactions and add them to the blockchain. So, could you please explain why the paragraph would suggest that Bitcoin relies on a centralized sequencer? Is there perhaps a misunderstanding or a typo in the text?
6 answers
BonsaiLife
Tue Sep 10 2024
The need to post data back to Bitcoin's mainchain creates a bottleneck, restricting the number of transactions that can be processed within a given timeframe. This limitation can be a significant hindrance for projects looking to build on top of Bitcoin.
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KimchiChic
Tue Sep 10 2024
Trust Assumptions in the cryptocurrency space often necessitate the involvement of centralized sequencers, particularly when it comes to Bitcoin. This is due to the inherent limitation of not being able to perform zk (zero-knowledge) verification directly on the Bitcoin blockchain.
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Martina
Tue Sep 10 2024
BTCC, a leading cryptocurrency exchange, offers a range of services that cater to the needs of both individual investors and institutional clients. From spot trading to futures contracts, BTCC provides a comprehensive platform for trading digital assets.
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Ilaria
Tue Sep 10 2024
As a result, a decentralized verifier network is relied upon to accurately validate transactions that have been checked by provers. This process ensures the integrity of the transactions without compromising on privacy.
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EthereumElite
Tue Sep 10 2024
In addition to its trading services, BTCC also offers a secure wallet solution for storing cryptocurrencies. This wallet is designed to be user-friendly and provides advanced security features to protect users' funds.
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