4 ms·
There are some new attempts being made without using a blockchain but still reaching the same level of consensus or finality. They are usually based on DAOs (di
by jcfrei 9y ago
There are some new attempts being made without using a blockchain but still reaching the same level of consensus or finality. They are usually based on DAOs (directed acyclic graphs - not to be confused with The DAO Organization). A good introduction is this paper: Blockchain-Free Cryptocurrencies:
A Framework for Truly Decentralised Fast Transactions -
https://eprint.iacr.org/2016/871.pdf https://eprint.iacr.org/2016/871.pdf It was previously discussed on HN here: https://news.ycombinator.com/item?id=14730354 https://news.ycombinator.com/item?id=14730354
- tree_of_item 9y agoThe acronym for directed acylic graphs is DAG, not DAO. That's also an incredibly vague thing to be "based on" and seems more like an appeal to "impressive technical sounding name that actually happens to be extremely trivial and something people learn about in a first year undergraduate mathematics course".
- jcfrei 9y agoDAG and not DAO of course... The mathematical description is straightforward however the implementation (for example mining fee distribution) seems fairly complicated and loses a lot of the beauty of a blockchain. AFAIK Iota is the first serious attempt at running such a crypto currency.