[Cryptography] actual journalism, was LRB article, Satoshi's Trump Card

[Ben Laurie]

On 3 July 2017 at 03:21, James A. Donald <jamesd at echeque.com> wrote:

> On 03/07/2017 7:28 AM, grarpamp wrote:
>
>> Yes they're "scams" in that hardly any of the more than hundreds of
>> effectively cloned coins out there are bringing any substantial new
>> developments or combinations of capabilities that will cause them
>> to float to a top ten position long term.
>>
>
> The coin to invest in, the coin that I will invest in both in money and as
> a software contributor, will solve the scaling problem, will be capable of
> scaling all the way to wiping out the US$ as a world currency.  It will
> have integral support for sidechains with payments out of one sidechain to
> another sidechain being endorsed by sidechain signature from a single
> authority which is itself periodically but infrequently endorsed by a short
> sidechain multisignature, which can be generated by arbitrarily complex
> rules idiosyncratic to that sidechain provided that conformity to the rules
> has verification of bounded computational time that the central chain can
> evaluate.  It will have an efficient system for securing history in which
> Merkle trees do not grow to enormous depth, so that it is possible to
> efficiently verify any one small part of history without needing to verify
> all transactions that have ever taken place.   (Because scalability implies
> we abandon everyone verifying everything down to the last byte.)
>

Confused by this - Merkle trees inherently don't grow to enormous depth.


>
> It will be decentralized in the sense that if the police grab every single
> major contributor, software writer, and server, they cannot change the
> rules and make the currency act differently, they can only seize the money
> of the people that they have grabbed.
>
>
>
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