I could be misunderstanding, but I think the problem with this approach is the lack of permanent identity. What's a "supermajority"? Could I get it by making a bunch of fake identities and having them all "trust" me?
Alternatively, we could ask for a supermajority of coins, and then I think we've re-invented proof-of-stake.
You don't need coins, this is a permissioned chain where people agree on who can participate off-chain. Call it proof-of-authority. See Hyperledger Fabric
This is what I expect post-hype / tech-novelty. There are interesting pieces being built in the blockchain space, they can be assembled in more interesting ways if you think about trust and rule making differently (more traditionally?)
Re:Children Playing Blockchain
by UncleOxidant on Tuesday March 09, 2021 @03:29PM
(#26403753)
Which cryptocurrency does this describe?
Re:Children Playing Blockchain
by stilisstuk on Tuesday March 09, 2021 @03:42PM
(#26403913)
None. It's the banking system :)
Good ol' fiat money, of course. The economic system we have, which enjoys tremendous performance benefits of using interpersonal trust as a heuristic.
Hyperledger, Proof-of-authority, coinless blockchain.
Cryptocurrencies are not one-to-one with blockchain, rather one thing you can do with them.
it sounds a bit like https://faircoin.world/
Stellar, I think
> Each student keeps track of which of the others they consider trustworthy.
How do you turn that into code?
Each student keeps track of which of the others they consider trustworthy. Since they all play together everyday, they know who is nice, and who is naughty.
When a supermajority trusts the student placing a new block, that student is allowed to place it anywhere.
When not enough people trust the student placing the block, they prevent that person from doing so. That person may try again, but until they're willing to play nice and act trustworthy, they cannot place any blocks. They sit in the corner and pout until they come to their senses.
No one has to solve any puzzles, or roll any dice.
The tower is built efficiently, and all sorts of interesting designs are made by the creative energy that would have otherwise been wasted on busywork.