Intel is Winning Over Blockchain Critics By Reimagining Bitcoin’s DNA

By Timothy Sohn Dec 5, 2016 9:26 PM EDT

(CoinDesk) – Intel is winning support from even normally fickle technologists for its quieter, and some say, more innovative, approach to reimaging Bitcoin’s tech for the enterprise. One of the main contributors to this perception is proof-of-elapsed-time (PoET), a variation on the system that Bitcoin uses to ensure that computers in the network agree about which transactions really took place, which it unveiled earlier this year. Perhaps better known to cryptographers, this high-tech tool solves the computing problem of “random leader election,” or selecting who will create the next block of transactions.

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