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Bitcoin has taken quite a beating for its libertarian design biases, price volatility due to speculation, and the questionable practices of some currency-exchange firms. But whatever the real or perceived flaws of Bitcoin, relatively little attention has been paid to its “engine,” known as “distributed ledger” or “blockchain” technology. Move beyond the superficial public discussions about Bitcoin, and you’ll discover a software breakthrough that could be of enormous importance to the future of commoning on open network platforms.
