Re:On blockchains and why secure ledgers don't require proof...
by 75dvtwin on Tuesday November 07, 2017 @10:19PM
(#15649693)
I would agree that many use cases that imply a distributed ledger, do not need a proof-of-work.
Perhaps cryptocurrency still need it, but not many of the 'non-cryptocurrency' use cases.
My argument is centered around a following nuance:
If the use case allows to assume that 'originator' of a particular event is trusted, then the distribution of that event across multiple untrusted servers/access points, does not require a proof-of-work.
The example of how this works is explained in paper
"
Balloon: A Forward-Secure Append-Only Persistent Authenticated Data Structure
by Tobias Pulls and Roel Peeters
Abstract: We present Balloon, a forward-secure append-only persistent authenticated data structure. Balloon is designed for an initially trusted author that generates events to be stored in a data structure (the Balloon) kept by an untrusted server, and clients that query this server for events intended for them based on keys and snapshots.
Perhaps cryptocurrency still need it, but not many of the 'non-cryptocurrency' use cases.
My argument is centered around a following nuance:
If the use case allows to assume that 'originator' of a particular event is trusted, then the distribution of that event across multiple untrusted servers/access points, does not require a proof-of-work.
The example of how this works is explained in paper " Balloon: A Forward-Secure Append-Only Persistent Authenticated Data Structure
by Tobias Pulls and Roel Peeters
Abstract: We present Balloon, a forward-secure append-only persistent authenticated data structure. Balloon is designed for an initially trusted author that generates events to be stored in a data structure (the Balloon) kept by an untrusted server, and clients that query this server for events intended for them based on keys and snapshots.
" https://eprint.iacr.org/2015/007