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A Bitcoin system with no mining and no history transactions: Build a compact Bitcoin system
| Content Provider | Semantic Scholar |
|---|---|
| Author | Qian, Xiaochao |
| Copyright Year | 2016 |
| Abstract | We give an explicit definition of decentralization and show you that decentralization is almost impossible for the current stage and Bitcoin is the first truly noncentralized currency in the currency history. 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. |
| File Format | PDF HTM / HTML |
| Alternate Webpage(s) | http://arxiv.org/pdf/1404.4275v8.pdf |
| Alternate Webpage(s) | http://arxiv.org/pdf/1404.4275v9.pdf |
| Alternate Webpage(s) | https://arxiv.org/pdf/1404.4275v8.pdf |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
