Bitcoin without blockchain

[barbierir]

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

[railzand]

no merit, no. need the blockchain.

[sonicby]

Custom blockchain length.

[jonald_fyookball]

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.