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NightJanitor

Edward Snowden Explains Blockchain (11/20/2018)

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https://www.aclu.org/blog/privacy-technology/internet-privacy/edward-snowden-explains-blockchain-his-lawyer-and-rest-us

Excerpted comments from the article, specifically wrt Proof-of-Work vs Proof-of-Stake, which have recently come to the fore:

ESSuffice it to say cryptocurrencies are normally implemented today through one of two kinds of lottery systems, called “proof of work” and “proof of stake,” which are a sort of necessary evil arising from how they secure their systems against attack. Neither is great. “Proof of work” rewards those who can afford the most infrastructure and consume the most energy, which is destructive and slants the game in favor of the rich. “Proof of stake” tries to cut out the environmental harm by just giving up and handing the rich the reward directly, and hoping their limitless, rent-seeking greed will keep the lights on. Needless to say, new models are needed.

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Guest

I'm not so sure a "new" model is needed. It sounds that ES isn't considering xrp's consensus algorithm. I would imagine it wasn't part of the discussion because of xrp's transparency. 

So if that's the case, Elixxir from David Chaum and Taler from Richard Stallman/Christian Grothoff would be possible models to consider. However, neither are very new, just no one has been listening to these guys for far too long. I hope they can bring some wisdom into the arena. 

Edited by Guest

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