Re:JP Morgan Unveils USD-Backed Cryptocurrency for B2B Payments
by askmike on Friday February 15, 2019 @03:21AM
(#19169336)
Most quorum implementations I have seen don't use mining for consensus. Out of the box you can choose between these consensus algorithms: https://github.com/jpmorganchase/quorum/wiki/Quorum-Consensu...
Re:JP Morgan Unveils USD-Backed Cryptocurrency for B2B Payments
by bhaak on Friday February 15, 2019 @05:32AM
(#19169823)
Thanks for the link. I knew there were other consensus algorithms possible but I didn't know of any specific example.
The main point still stands though, the different consensus algorithm allow you more insight than a simple centralized DB that is just a black box.
Doesn't sound that trustless to me. With a decentralized setup as in Quorum at least everybody can calculate how much they have to trust the miners.
If your company has miners of their own, you are part of the whole system and not just using a third party service.