Re:DagCoin: a cryptocurrency without blocks
by DonHopkins on Friday December 04, 2015 @08:00PM
(#10680268)
We need a cryptocurrency that doesn't cause so much coal to be burned.
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Re:DagCoin: a cryptocurrency without blocks
by qrmn on Saturday December 05, 2015 @03:46AM
(#10681326)
Sybil is a real pain, and HashCash (via I2P, which had it as an anti-DoS option) was the first obvious attempt at a solution that worked. It would be better done with Argon2 now, but it still burns coal and is a bet that evil nodes don't have more power than all the good nodes put together - it seems we aren't always going to win that bet.
Will proof-of-stake would be any better? It doesn't feel as suited to things other than currency to me, because: what value does the deposit have? We'll see how it turns out when deployed, it's hard to predict how people will react.
There's a surprising amount of heat in the field now. Lots of activity, like this interesting work, some very strong opinions. Please don't eat me! I'm quite happy to leave it be and move onto other things.
Re:DagCoin: a cryptocurrency without blocks
by pellmellism on Friday December 04, 2015 @09:52PM
(#10680581)
The more power consumed, the stronger it is. A cheap chain is a weak chain
Re:DagCoin: a cryptocurrency without blocks
by DonHopkins on Saturday December 05, 2015 @01:14AM
(#10681082)
How about solar batteries with built-in "greencoin" cryptocurrency mining circuitry, that generate electricity instead of heat as a by-product? ;)
Re:DagCoin: a cryptocurrency without blocks
by logn on Saturday December 05, 2015 @12:15AM
(#10680978)
Check out Safecoin, http://maidsafe.net/documents
Re:DagCoin: a cryptocurrency without blocks
by itistoday2 on Friday December 04, 2015 @10:29PM
(#10680673)
Ethereum is going to do that in about a year.
Re:DagCoin: a cryptocurrency without blocks
by anarcat on Friday December 04, 2015 @10:47PM
(#10680739)
can you be a little more specific?
Re:DagCoin: a cryptocurrency without blocks
by anarcat on Sunday December 06, 2015 @04:41PM
(#10686767)
TL;DR. What's the takeaway?
Re:DagCoin: a cryptocurrency without blocks
by jbpetersen on Sunday December 06, 2015 @05:25PM
(#10686938)
Instead of a hashing contest it uses time locked deposits on which block will be accepted next.
To my understanding it works out as a combination of prediction market style betting and bidding for a block to be accepted.