TL;NR
If the new cryptocurrency is based of some kind of "centralized" system, it will lose the power of blockchain. The blockchain is "simple" enough and the current obstacles are bandwidth+blocksize.
Topic: Beyond Blockchain: Simple scalable cryptocurrency (Read 549 times)
Most of here know, either intuitively or by logical deduction, that the technology of bitcoin is paving the way for civilization changing revolutions. This article on Medium goes deep into what doors bitcoin has really opened up.
here are some snippets:
-as we know, bitcoin is not decentralized per se. There are people out there working on newer blockchains that decentralize the process of evolving the protocol itself. Here we are, fighting over which update to go after, when there is a way to design cryptocurrencies beyond that
-we don't have to to have every local wallet containing the ledger for every transaction ever done. Nature doesn't do this and we would be wise to build our systems following the intelligence inherent in nature.
imag
-The author of the article, Arthur Brock, has been working on currencies well before Bitcoin. Here he is taking to Occupy wall st protestors and organizers about how 'currency' as we define it for wealth purposes, is extremely narrow and any revolution looking to take out the banking elite should consider overthrowing the currency systems that define it so narrowly
https://vimeo.com/31164740
And i think the most important tidbit to churn in your brain for the evening..."Ceptr" is the protocol Brock and others are working on...
-Blockchain is about managing a consensus about what was “said.”
Ceptr is about distributing a consensus about how to “speak.”
Here's the beginning of the article...
not sure about the rules of copy/pasting full articles.
Here it is in full...https://medium.com/metacurrency-project/beyond-blockchain-simple-scalable-cryptocurrencies-1eb7aebac6ae#.6bl3whuul
here are some snippets:
-as we know, bitcoin is not decentralized per se. There are people out there working on newer blockchains that decentralize the process of evolving the protocol itself. Here we are, fighting over which update to go after, when there is a way to design cryptocurrencies beyond that
-we don't have to to have every local wallet containing the ledger for every transaction ever done. Nature doesn't do this and we would be wise to build our systems following the intelligence inherent in nature.
imag
-The author of the article, Arthur Brock, has been working on currencies well before Bitcoin. Here he is taking to Occupy wall st protestors and organizers about how 'currency' as we define it for wealth purposes, is extremely narrow and any revolution looking to take out the banking elite should consider overthrowing the currency systems that define it so narrowly
https://vimeo.com/31164740
And i think the most important tidbit to churn in your brain for the evening..."Ceptr" is the protocol Brock and others are working on...
-Blockchain is about managing a consensus about what was “said.”
Ceptr is about distributing a consensus about how to “speak.”
Here's the beginning of the article...
Quote
Currently, most people think of cryptocurrencies as things that run on blockchains like bitcoin, ethereum, dogecoin, and all the alt-coins and ledger systems. This post outlines a completely different strategy for implementing cryptocurrencies with completely distributed chains. Before presenting the approach, I want step back and validate some basic assumptions, because this very notion seems impossible to many, especially those steeped in blockchain.
In the MetaCurrency project we started with a different goal. Rather than trying to make one global, anonymous, digital cash (“One ring to rule them all…”), we are interested in the resilience that comes from building a rich ecosystem of interoperable currencies. We seek to empower communities of all shapes, flavors, and sizes to organize themselves and their flows of resources more effectively. Our different assumptions and design requirements has led us down a different path toward implementation.
In the MetaCurrency project we started with a different goal. Rather than trying to make one global, anonymous, digital cash (“One ring to rule them all…”), we are interested in the resilience that comes from building a rich ecosystem of interoperable currencies. We seek to empower communities of all shapes, flavors, and sizes to organize themselves and their flows of resources more effectively. Our different assumptions and design requirements has led us down a different path toward implementation.
not sure about the rules of copy/pasting full articles.
Here it is in full...https://medium.com/metacurrency-project/beyond-blockchain-simple-scalable-cryptocurrencies-1eb7aebac6ae#.6bl3whuul
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