Re:The tech world is split over Telegram’s fund-raising camp...
by htormey on Saturday March 10, 2018 @02:22PM
(#16559760)
The question is how centralized does a network like this need to be?
Not sure if I am reading the white paper correctly but I think Telegram appear to be going with a masternode type solution initially for their proof of stake solution
“Another form of staking is running a masternode,[9] a form of decentralized server. The main disadvantage of operating a masternode is the relatively high barrier to entry as opposed to staking alone. In order to secure the network, those willing to run a masternode are required to purchase a certain number of coins as collateral at current market price.”
Will a solution like this, which is more centralized than something like btc be good enough? Will people be happy with this level of centralization or refuse to use the service on principle? I don’t know. I do think that at least the earlier parts of their roadmap seem plausible (2018). The 2019 section however does seems rather ambitious and ambiguous.
Not sure if I am reading the white paper correctly but I think Telegram appear to be going with a masternode type solution initially for their proof of stake solution
https://en.m.wikipedia.org/wiki/Proof-of-stake:
“Another form of staking is running a masternode,[9] a form of decentralized server. The main disadvantage of operating a masternode is the relatively high barrier to entry as opposed to staking alone. In order to secure the network, those willing to run a masternode are required to purchase a certain number of coins as collateral at current market price.”
Will a solution like this, which is more centralized than something like btc be good enough? Will people be happy with this level of centralization or refuse to use the service on principle? I don’t know. I do think that at least the earlier parts of their roadmap seem plausible (2018). The 2019 section however does seems rather ambitious and ambiguous.