> A Blockchain is a public (or at least shared) digital notary.
...
> transactions are more expensive without a third party, because you need
> to make the process of adding a new block "expensive enough" in order to
> make sure that the one doing it can not deploy enough computing power to
> hack the existing blocks during the process.

And, one needs to remind oneself, "expensive enough" can only ever mean "today".

Karsten Hilbert

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