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Just because it's private doesn't mean it's decentralized in a protocol sense. The nodes in the private blockchain would still be distrustful of each other and
by v64 9y ago
Just because it's private doesn't mean it's decentralized in a protocol sense. The nodes in the private blockchain would still be distrustful of each other and would still undergo decentralized consensus.
As for compensation, rather than receiving a coin as a reward for doing proof of work mining, you would gain a key to enable you to read certain encrypted data on the blockchain, for instance.
- CryptoPunk 9y agoWhat you're describing is not an open AND decentralized (however way you want to define 'decentralized') platform, and its applications are much more limited. And your scheme does require some amount of trust. Induction into the consensus node set would need to be controlled to prevent bad actors from disrupting the flow.