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Certificate authorities seems to follow the same pattern. I wonder if we might see a crytocurrency someday follow that same pattern: the chain is decentralized
by mabbo 8y ago
Certificate authorities seems to follow the same pattern.
I wonder if we might see a crytocurrency someday follow that same pattern: the chain is decentralized and public, but the miners are each replaced by authorities that a user can choose to accept (or not). The downside to this would be disagreements over who actually owns what. You'd only be able to make a transaction if both the buyer and seller agree on who owns the currency being exchanged.
At least then we wouldn't have the insanity of "whoever uses the most electricity is right".
- woah 8y agoThere are many chains like this
- mabbo 8y agoReally? Do tell, I'm quite interested!
- coconutrandom 8y agoLook up [Delegated] Proof of Stake
- bitxbitxbitcoin 8y agoThose "authorities" could still be expending energy, be it marketing dollars or actual compute time, to jockey to be "the authority" trusted by users, though.
- SeoxyS 8y agoStellar is this