> The bitcoin consensus mechanism is literally a lottery
It is, but with the probability of winning proportional to the "work" you put in. That is crucial.
It is, but with the probability of winning proportional to the "work" you put in. That is crucial.
for bitcoin there is no central authority. the reward for winning is “fixed” and claiming the said reward is dependent on a network that validates that you indeed have the work that incorporates pending transactions into the blockchain. also, “winning” happens at regular intervals of time (average 10 minutes based on difficulty), and what you’re winning is somewhat fixed (the block reward is fixed + some TX fees var).
so it’s not a lottery.