It's something that attracts a lot of negative comments from people. Since it's a form of centralisation. Although your proposal is less centralised.
Most people seem to forget though that every cryptocurrency natually starts out as centralised and evolves torwards decentralisation as time goes on. It's part of the process with the ultimate goal being fully decentralised of course.
Topic: Multi Signed Broadcasted Checkpoints (Read 746 times)
We are considering adding (optional) Peercoin style broadcasted checkpoints to Bitmark to further enhance security.
It occurred to me today, that it may be nice to require multiple signatures on any broadcasted checkpoints before they are accepted or relayed as valid. This would allow say 2 community members, an exchange, two pools and a developer to all sign a checkpoint once every few days, requiring a majority of signatures from those listed as valid, 5 of 8 or 8 of 12, and so forth.
We would intend it to be semi manual process requiring a human to verify and sign, not a fully automated system, to ensure a smooth transition and no technical exploits. Perhaps it is even better than hardcoded checkpoints where you have to trust only the developer(s).
Has anybody implemented such a thing, or proposed or analysed it? Seeking feedback, and to discuss this further over the coming weeks.
Mark
Jump to: