Noncentralized Cryptocurrency wtih No Blockchain

qianxiaochao

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: Cryptocurrency Converged Consensus Bitcoin Noncentralization
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

BibTeX

@misc{cryptoeprint:2014/330,
      author = {qianxiaochao},
      title = {Noncentralized Cryptocurrency wtih No Blockchain},
      howpublished = {Cryptology {ePrint} Archive, Paper 2014/330},
      year = {2014},
      url = {https://eprint.iacr.org/2014/330}
}