I've been working on a new electronic subsidy system for family farms that's fully peer-to-peer, with no trusted third party.
The paper is available at:
(LINK IN UPDATE)
The main properties:
Double-spending is prevented with a peer-to-peer network.
Distributed on a seasonal schedule to qualifying growers
New bitcorn is made from Bitcoin style proof-of-work.
Network supports P2P transations for real goods
The proof-of-work for new bitcorn generation also powers the network.
Bitcorn is an upcoming fork of the Bitcoin code base designed as an experimental subsidy to assist small volume regional growers across the planet. If you or someone you know tends the earth responsibly to produce bounties for their region, send them to www.Bitcorn.Network where they can sign up to receive an airdrop of free bitcoin beginning in November 2018. BCORN can be traded for BTC using the Bitcorn App or at Bitcorn.Network. Once converted to BTC, it's reasonably simple to convert to National Fiat such as (USD, EURO, Etc) with one of the Gateway Partners; Coinbase, Kraken, Bithumb, Binance, and Bancor assist users in accessing their Bitcorn subsidy.
Bitcorn: A Peer-to-Peer Electronic Subsidy for Family Farms
Abstract: A purely peer-to-peer electronic subsidy would allow online payments to be sent directly from one party to another without the burden of going through a financial institution. Money for family farms provides part of the solution, but the main benefits are lost if a central organization is still required to fix prices and regulate product distribution. We propose a solution to the problems of the current food system by using a peer-to-peer network to support regional producers. The network timestamps bitcorn distributions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work. 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. As long as honest nodes control the most CPU power on the network, they can generate the longest chain and outpace any attackers. The network itself requires minimal structure. Messages are broadcasted 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.
Help me finish the full paper here: https://docs.google.com/document/d/1SK2ssYtjZGxtnQUChvXdDJ_NyuHLspR1nfmyAGN_Owk/edit?usp=sharing
Topic: Bitcorn Network (Read 160 times)
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