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Title: Bitcoin without blockchain Post by: barbierir on May 15, 2014, 10:06:19 AM Sorry if it was already discussed but I can't find it. Is there any merits in the following paper?
"A Bitcoin system with no mining and no history transactions: Build a compact Bitcoin system" http://arxiv.org/abs/1404.4275 Title: Re: Bitcoin without blockchain Post by: railzand on May 15, 2014, 10:20:32 AM no merit, no. need the blockchain.
Title: Re: Bitcoin without blockchain Post by: sonicby on May 15, 2014, 10:28:26 AM Custom blockchain length.
Title: Re: Bitcoin without blockchain Post by: jonald_fyookball on May 16, 2014, 04:31:51 AM Even I (not being a bitcoin expert) can
see that this paper's idea for an alt-coin is full of half-baked ideas, uncertainties and questionable assumptions, if not flat out erroneous. This idea of converged consensus is based on RANDOMNESS, which is hardly desireable. Compare that to Bitcoin, which creates consensus from proof of work based on incentivizing miners to be honest nodes. |