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Title: Ichthys Echoes ~ A new digital currency not based on blockchain. Post by: RedHeadedKoi on July 26, 2020, 05:18:25 PM Here is a design for a digital currency I discovered. I'll get right into how it works.
Brian wants to send Ben $.50. He takes out a dollar. "$.50 for Ben, $.50 to get it to him." Then writes Ben's payment info on the dollar. Brian then sets the dollar on the porch. Lisa picks up a copy of the dollar and says "I don't know who Ben is, but I might bump into someone who knows him. I'll charge $.25. $.20 for me, $.05 to get it to me." Then writes her payment information on the dollar. Lisa is sharing the dollar on the network and bumps into Dave. Dave gets a copy of the dollar. "I know who Ben is! I'll charge $.25. $.25 for me, $.00 to get it to me." He writes his payment info on the dollar, and then gives the dollar to Ben. Ben says "$.50 from Brian! And $.50 for couriers." Ben hands Dave his quarter, then places Lisa's quarter on the porch. The process repeats. As these payments are making their way across this decentralized network, you can attach files to them and you have a file transportation network that is simultaneously digital cash. An echo that has been signed by the recipient is a receipt. An echo that is on the way to a recipient is a payment. All others are fees. A chain of receipts to the root of the tree is the heritage. Wallets are called stars. Hints: Whitelists to prevent double-spends, nests and greenhops for routing. |