the next cryptocurrency should define "work" in terms of folding proteins, processing seti data, or some other productive activity
@jrecursive @deepak_kannan @matthew_d_green I think @zooko has some ideas around multiparty transaction signing with homomorphic encryption
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@bascule@deepak_kannan@matthew_d_green@zooko over my head -- do you have any background material i can read? -
@bascule@deepak_kannan@matthew_d_green@zooko i don't immediately see how this precludes economic pressures of proof of work; i'll read up -
@jrecursive@bascule@deepak_kannan@zooko It's also a guard against Sybil attacks, where one node pretends to be many. -
@jrecursive@bascule@deepak_kannan@zooko You might replace PoW with reputation and a voting protocol. You might replace PoW with payments. -
@matthew_d_green@bascule@deepak_kannan@zooko So, against Sybil.. is via the bitcoin generation transaction (in the Merkle tree), yes? -
@jrecursive@bascule@deepak_kannan@zooko The real reason for the PoW is to make it hard for one person to control the block chain. -
@matthew_d_green@bascule@deepak_kannan@zooko ya - sorry, i took that for granted as something that was a necessary quality --
End of conversation
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