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Author Topic: A Centralized Block Chain  (Read 773 times)
hashman
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August 31, 2011, 06:31:20 PM
 #1


OK, I know that the whole point of the system is that bitcoins are decentralized.  However, it seems that some of the advantages of the block chain system (e.g. non-counterfeitability, transferability, security) could be implemented in a centralized system.   Curiosity led to  a cursory search of this forum for discussion, but I didn't find any other than discussion of centralized control of software clients / protocol changes. 

In such a system there could be various degrees of centralization, at one extreme all new blocks would be made by the central authority (no hashing necessary Sad ... ) and and also control over the reward per block.  In this "dollarcoin" the central issuer would still have control over the money supply (monetary inflation) however the amount printed would be public.  This would be similar in some ways to the USD or EUR system except that there wouldn't be professional economists arguing about whether 15 trillion or 30 trillion had recently been created...  could mean better transparency..  lower transaction fees and higher liquidity..   

Of course, various degrees of decentralization could be applied.

Anyway, I wouldn't be surprised if others were thinking about or directly planning such systems and so.. your thoughts and job offers please Smiley

cheers - 

   


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August 31, 2011, 06:48:52 PM
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This kind of thing is very simple to do with a central server, and it's been done several times before.

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