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But who is it that picks the hash to publish into the NYT? You're putting that picker in control of the whole network; it's not decentralized at all. If you're
by AgentME 9y ago
But who is it that picks the hash to publish into the NYT? You're putting that picker in control of the whole network; it's not decentralized at all.
If you're going to have a trusted authority involved, then having a globally-synchronized blockchain is unnecessary. Users could just check with the trusted authority about whether a transaction is valid (not a double-spend), or even just have the trusted authority maintain balances for them.
- maxerickson 9y agoThey would publish a hash of a public ledger. The central authority would still choose what ended up in the ledger but they would not be able to rewrite history because of the publicized hashes locking it into place. I meant to sketch out a centralized way of finalizing a public ledger, so yeah, it isn't decentralized.