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Paper 2014/330

Noncentralized Cryptocurrency wtih No Blockchain

qianxiaochao

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.

Note: Call for collaborators please contact at fxxfzx@qq.com

Metadata
Available format(s)
PDF
Publication info
Published elsewhere. Minor revision. http://arxiv.org/abs/1404.4275
Keywords
CryptocurrencyConverged ConsensusBitcoinNoncentralization
Contact author(s)
fxxfzx @ qq com
History
2016-05-14: last of 6 revisions
2014-05-13: received
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Short URL
https://ia.cr/2014/330
License
Creative Commons Attribution
CC BY
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