[Cryptography] F*ck Facebook

[Eternal October]

Machine gun this at your leisure until it's deemed viable or trash can fodder. Facebook is proposing something similar tomorrow. I suspect that they will only basket fiats and miss the entire point of this grand experiment.

I've only just now, quickly, written an abstract and am not an academic writer. And I'm clearly not SN. Not even close. Guy spooks me, whoever he is.

~

Owl: A Peer-to-Peer Electronic Cash System

Eternal October
eternaloctober at protonmail.ch

WORKING DRAFT
JUNE 17, 2019

Abstract. Programmable money[1] pegged to a variety of assets weighed dynamically by their moving impact on the global economy would act as a hedge against failure in legacy assets. We propose a solution to the centralization of speed-focused blockchains with a variant of Delegated Proof-of-Stake[2] utilizing Quadratic Voting[3] as a consensus mechanism rather than plutocratic systems prone to cartel formation. This combats the consolidation of influence by resourceful actors. Owl deploys a system of APIs both publicly available and managed by elected custodians working in tandem with decentralized oracles[4] in multi-asset price discovery. Authenticating the median price of these assets through Byzantine fault tolerance checks creates a steadycoin that shields itself from volatility.

[1] https://bitcoin.org/bitcoin.pdf
[2] https://bitshares.org/technology/delegated-proof-of-stake-consensus
[3] https://eosauthority.com/producers_rank_quadratic
[4] https://link.smartcontract.com/whitepaper
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