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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)
- 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
- See all versions
- Short URL
- https://ia.cr/2014/330
- License
-
CC BY