[Cryptography] Proof of Work is the worst way to do a BlockChain

[Bill Frantz]

On 2/18/18 at 6:13 AM, jamesd at echeque.com wrote:

>Crypto currency payments tend to be massively replicated to 
>avoid various failure modes, but obviously this is uneconomic 
>for micropayments, which problem can be fixed by aggregating 
>very small payments through single peer sidechains.  You would 
>have to trust the single peer, but you are only trusting him 
>for modest amounts.

Norm Hardy has doen a lot of thinking about this approach which 
he call The Digital Silk Road. See 
<http://cap-lore.com/Economics/DSR/> for the top of the tree of 
web pages.

Cheers - Bill

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