I sometimes hear that bitcoin's key innovation was the Nakamoto Consensus, which solves the double-spend problem without the need for trusted third-party intermediaries.
I take Nakamoto Consensus to mean the bitcoin consensus mechanism, so it includes the proof of work process, the difficulty adjustments and any other rule code into bitcoin.
Am I correct here? It would be interesting to figure out who coined the term 'Nakamoto Consensus'. This may shed some light on this topic.