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A comment on Binance's books are a black box, filings show, as it tries to rally confidence. Parent comment

Re:Binance's books are a black box, filings show, as it trie... by peter422 on Monday December 19, 2022 @04:46PM (#34058220)
There is no reason you can't mix the cryptological security of the Bitcoin Blockchain without the proof of work part.

If I (a trusted third party) maintained a giant public database that anybody could append to, it would be trivial to release checksums or hash values at specific intervals to prove that nothing in the past was altered.

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Re:Binance's books are a black box, filings show, as it trie... by arbol on Tuesday December 20, 2022 @12:58AM (#34062118)
> If I (a trusted third party) maintained a giant public database that anybody could append to

You're opening yourself up to equivalent of DDoS for databases.

Add extra maintainers for redundancy and economically incentivise people to act in good faith. Congratulations, you now have a proof of stake blockchain.

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