Shouldn't this be moved into alts?
Topic: Tendermint - Consensus without Mining (Read 1147 times)
It's essentially proof-of-stake. No matter how they call it it's proof-of-stake
Has someone read the Tendermint white paper? Would be interested to hear what people in the forum think about it.
White paper: http://tendermint.com/docs/tendermint.pdf
Tendermint homepage: http://tendermint.com/
Discussion on Hackernews: https://news.ycombinator.com/item?id=9138923
Quote
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.
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.pdf
Tendermint homepage: http://tendermint.com/
Discussion on Hackernews: https://news.ycombinator.com/item?id=9138923
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