We propose a solution to the blockchain trilemma of decentralisation, security and scalability. A network of individual blockchains that are interoperable without the need for any chain above them or cross-chain bridges between them. It is infinitely scalable. The proposed consensus mechanism is a modified Nakamoto consensus that replaces energy intensive Proofs-of-Work with Proofs-of-Used-Bandwidth. Furthermore, because blocks must be signed by random owners of coins before they can be added to the chain of blocks, no Proofs-of-Used-Bandwidth from one network can be used to take over consensus in another, unlike Proof-of-Work or Proof-of-Space-and-Time, where resources (hashing power and storage capacity respectively) from the biggest network can be used to attack smaller ones.
Short presentation: https://www.theintercon.org/assets/intercon_presentation.pdf
Whitepaper: https://www.theintercon.org/assets/intercon_whitepaper.pdf
Topic: I propose the solution to blockchain trilemma. (Read 40 times)
Jump to: