- I think the current VOTING in Bitcoin system (with the current "difficulty"-system) can be a good compromise - but the voting must be scheduled at a low and fixed frequence with a new communication protocol.
Satoshi' paper (only the first paragraph "Abstract") criticism:
"Digital signatures provide part of the solution, but the main benefits are lost if
a trusted third party is still required to prevent double-spending."
- A trusted third party (in greencoin) isn't required for prevent double-spending, it is required to prevent 50%+1 attack
. The trusted third party should be the community
of users/miners/guests/moderators of greencoin... The community of our money.
"The longest chain not only serves as proof of the sequence of events witnessed,
but proof that it came from the largest pool of CPU power
- The longest chain not only serves as proof of the sequence of events witnessed,
but proof that it came from the largest pool of trusted miners
. "power" is
a possible means of a "centralised authority" - please, do not use it for prevent double-spending
"The network itself requires minimal structure. Messages are broadcast on
a best effort
basis, and nodes can leave and rejoin the network at will,
accepting the longest proof-of-work chain as proof of what happened while they were gone."
- "best effort" = "power" => The network should be redesign too