A decentralized (multilayered) blockchain. Is it ever possible?

[deisik]

Could you please explain the concept of it in a few words? I mean that part which allows blocks "sharding" (if I use the correct term) as opposed to what the Bitcoin blockchain does. I don't need technical details, just the basic idea. Some here say that it is impossible to do but I don't feel inclined to unreservedly trust their words...

Will your coin ever come to fruition?

My white paper will be the best resource for convincing you. I hope to publish it along with a testnet February-ish.

What February do you refer to exactly?

Yes it is possible. But all the prior thinking about how to do it, has been wrong.

Note I am not hyping anything, because I am not asking for any money until after the white paper and testnet are published.

I am just giving you a heads up, that if you don't want to miss your chance to have obtained Bitcoin when it was only pennies per BTC, then you should be watching very carefully what I am doing. Of course be skeptical and make sure you read the white paper carefully.

Sorry I am not going to tell you my secrets before I am at the testnet phase. Too many copycoins would steal my ideas if I did that. It will all be open source after testnet.

Okay, I will closely watch your thread provided the February you mentioned above is in not too distant future. Regarding whether it is possible to do, some people claim that it is not possible at all but I have a gut feeling that it is, just like the public-key cryptography is considered impossible by those who are not quite familiar with that. Namely, that you can encrypt a message with a publicly available key, and no one will be able to decrypt it...

Unless they have a private key, of course

[iamnotback]

It is definitely not possible to have decentralization with proof-of-work (nor proof-of-stake):

https://bitcointalk.org/index.php?topic=1319681.msg16968966#msg16968966

So the people who claim it is not possible, start with a set of presumptions which prevent them seeing how it could be accomplished.

as others have said bitcoin is decentralized..

the problem is not that bitcoin cant scale.. its that bitcoin is being prevented from scaling by.. HUMANS,

Incorrect:

The flaws in the current two best contenders (Satoshi's proof-of-work and Bitshares' DPoS) are insoluble:

https://bitcointalk.org/index.php?topic=1319681.msg16957687#msg16957687

Bitcoin removes the necessity of requiring third parties to keep track of personal transactions

Incorrect if you mean to imply that Bitcoin is not centralized:

https://bitcointalk.org/index.php?topic=1690725.msg16991114#msg16991114

The distinction is that the centralized entities are global. The nation-states can't regulate the miners. But the miners are centralized and will become ever more so. It is a winner-take-all economic paradigm. Why wouldn't the global elite love that?

Decentralized is not the same as distributed!

[franky1]

.... advertising a whitepaper...

i read it and i can see the theories you are trying to establish.. but i think you need to do a bit more research.
i can see atleast 3 issues which can easily pull apart your debate.

here is a hint about one of them.
the cost to mining pools, you debate about the fee:reward ratio.. but your forgetting another HUGE metric that causes your theory to fall flat.

[gxp3848]

  ;Dgood

[Juggy777]

It is almost a given that if the Bitcoin adoption should increase multifold in the coming years, the current paradigm of a centralized blockchain is essentially doomed. I guess it will be simply impossible to process millions (billions) of transactions daily with such a blockchain where every transaction gets replicated on each of the hundreds (thousands) of nodes supporting the Bitcoin infrastructure. That would be a terrible waste of resources per se even if it could still be technically possible. So how feasible a decentralized blockchain (or something like that) would be?

Indeed, that would most certainly require a hard fork, but without such a fork, Bitcoin is bound to remain only a marginal currency at best

I think you have a valid point here. Most of the users might not agreed to this view, but I feel that a decentralised blockchain would be a good idea cause the transactions are bound to multifold over the years. And it's about time some planning is done. Would love to see this happen soon.

[deisik]

It is almost a given that if the Bitcoin adoption should increase multifold in the coming years, the current paradigm of a centralized blockchain is essentially doomed. I guess it will be simply impossible to process millions (billions) of transactions daily with such a blockchain where every transaction gets replicated on each of the hundreds (thousands) of nodes supporting the Bitcoin infrastructure. That would be a terrible waste of resources per se even if it could still be technically possible. So how feasible a decentralized blockchain (or something like that) would be?

Indeed, that would most certainly require a hard fork, but without such a fork, Bitcoin is bound to remain only a marginal currency at best

I think you have a valid point here. Most of the users might not agreed to this view, but I feel that a decentralised blockchain would be a good idea cause the transactions are bound to multifold over the years. And it's about time some planning is done. Would love to see this happen soon.

It is hardly going to happen any time soon

Some altcoins might be aiming at that specifically, and some dudes are even claiming that they have designed something to that tune already. But they have been claiming that for years, though nothing of substance has come out of it so far, to be honest. In respect to Bitcoin specifically, developer folks seem to be more busy with intriguing against each other than trying to work as a solid team. At least, that's the impression you get by reading flame wars raging here and elsewhere in the Internet as well as seeing the labors with which the updates to Bitcoin, long due and overdue, take to get activated (e.g. SegWit)

[Juggy777]

It is almost a given that if the Bitcoin adoption should increase multifold in the coming years, the current paradigm of a centralized blockchain is essentially doomed. I guess it will be simply impossible to process millions (billions) of transactions daily with such a blockchain where every transaction gets replicated on each of the hundreds (thousands) of nodes supporting the Bitcoin infrastructure. That would be a terrible waste of resources per se even if it could still be technically possible. So how feasible a decentralized blockchain (or something like that) would be?

Indeed, that would most certainly require a hard fork, but without such a fork, Bitcoin is bound to remain only a marginal currency at best

I think you have a valid point here. Most of the users might not agreed to this view, but I feel that a decentralised blockchain would be a good idea cause the transactions are bound to multifold over the years. And it's about time some planning is done. Would love to see this happen soon.

It is hardly going to happen any time soon

Some altcoins might be aiming at that specifically, and some dudes are even claiming that they have designed something to that tune already. But they have been claiming that for years, though nothing of substance has come out of it so far, to be honest. In respect to Bitcoin specifically, developer folks seem to be more busy with intriguing against each other than trying to work as a solid team. At least, that's the impression you get by reading flame wars raging here and elsewhere in the Internet as well as seeing the labors with which the updates to Bitcoin, long due and overdue, take to get activated (e.g. SegWit)

Ya I know and that's a sad reality. We are infighting with each other, and each one trying to prove his point, but if only they understood that they need to be United and it's my belief that the day the community is United, miracles will happen, what seemed impossible will be possible but then that's a long time, but I am positive it shall happen, problem is some fools spread rumors and then sit back while everyone bickers. Let's hope something works out in future soon.