Author: Stephen Reed 2014-05-20 16:12:53
Published on: 2014-05-20T16:12:53+00:00
Stephen L. Reed from Austin, Texas created a whitepaper for Bitcoin, proposing a proof-of-stake version that uses a single nomadic verifiable mint agent and distributed replication of a single blockchain by compensated full nodes to achieve 6-hop, sub-second transaction acknowledgement times. This version pays dividends to holders instead of wasting it on miners, making subsidized transaction fees lower. However, since the code has not yet been written, this idea is still half-baked and comments are appreciated on the project thread, which will serve as a development diary. Reed plans a hard fork of the Bitcoin blockchain in early 2016, after a year of public system testing, and conditioned on wide approval.
Updated on: 2023-06-08T23:11:32.790319+00:00