Cryptology ePrint Archive: Report 2014/330

Noncentralized Cryptocurrency wtih No Blockchain


Abstract: We give an explicit definition of decentralization and show you that decentralization is almost impossible for the current stage. We propose a new framework of noncentralized cryptocurrency system with an assumption of the existence of a weak adversary for a bank alliance. It abandons the mining process and blockchain, and removes history transactions from data synchronization. We propose a consensus algorithm named “Converged Consensus” for a noncentralized cryptocurrency system.

Category / Keywords: Cryptocurrency,Converged Consensus, Bitcoin, Noncentralization

Original Publication (with minor differences):

Date: received 11 May 2014, last revised 13 May 2016

Contact author: fxxfzx at qq com

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Version: 20160514:020856 (All versions of this report)

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