[Cryptography] new, more efficient consensus protocol

[jrzx]

On Friday, January 15, 2021 1:18 PM, Dennis E. Hamilton <dennis.hamilton at acm.org> wrote:

> There is a claim that the blockchain trilemma is solved via the Algorand methodology.
>
> It is discouraging that there is a lot of Patent Pending in this.It strikes me as important to understand regardless.

If I understand algorand correctly, it involves all big holders of the cryptocurrency being logged on and ready to download all transactions as they come in.

This does not appear to be scalable.

At scale, all crypto currencies wind up with a relatively small number of big peers and a large number of clients - which obviously poses a risk of dangerous concentration of power, and you just have to figure out how to make things work so that the clients have the secrets, and the people who have the secrets have sufficient indirect power that they don't get mistreated too much.
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