Part 4/11:
Building on the technical backbone, the speaker explains that Bitcoin's innovation lies in its ability to solve the Byzantine Generals Problem—a critical challenge in establishing trust among systems with no central authority. Nakamoto's whitepaper and subsequent software release marked the beginning of a decentralized network that uses mathematical rules and cryptographic proof to maintain integrity and consensus.
This system operates similarly to the Internet protocols like TCP/IP—a universal, permissionless standard that is not owned by any single entity. Every participant in the network has an equal role, and transactions are broadcasted across nodes, allowing everyone to see and verify the records in a transparent way.