Has someone read the Tendermint white paper? Would be interested to hear what people in the forum think about it.
Abstract Cryptocurrencies such as Bitcoin enable users to submit
payment transactions without going through a centralized trusted organization.
Bitcoin relies on proof-of-work mining to secure consensus
which is problematic; mining requires a massive expenditure of energy,
confirmation of transactions is slow, and security is difficult to quantify.
We propose a solution to the blockchain consensus problem that does
not require mining by adapting an existing solution to the Byzantine
Generals Problem.
White paper:
http://tendermint.com/docs/tendermint.pdfTendermint homepage:
http://tendermint.com/Discussion on Hackernews:
https://news.ycombinator.com/item?id=9138923
