The entire blockchain for both systems is determined by fewer than 20 mining entities [4]. While traditional Byzantine quorum systems operate in a different model than Bitcoin and Ethereum, a Byzantine quorum system with 20 nodes would be more decentralized than Bitcoin or Ethereum with significantly fewer resource costs. Of course, the design of a quorum protocol that provides open participation, while fairly selecting 20 nodes to sequence transactions, is non-trivial.

Googles Byzantine quorum so he doesn't look stupid


Wait a minute, we value all this cryptocurrency using normal money but isn't it supposed to replace the normal money ? Is this like how paper money was backed by gold ? But haven't we already gone past the point of crypto being backed by paper money ? I mean everybody talks about how when you look at crypto it isn't really worth anything but in those terms is my paper money reeeally worth anything ? It's worth changes all the time, one push of a button and all of sudden we're all trading bottle caps. I'm confused.

posted by kleinbl00: 216 days ago