Post
Topic
Re: BYTEBALL: Totally new consensus algorithm + private untraceable payments
by
portabella
on 15/06/2017, 08:24:19 UTC
Reposting from slack for visibility.

Byteball, so far has no formal governance model. BUT! It is ripe for having THE BEST governance model - due to the witnesses system.
The witnesses are the rule enforcers, but the users area the witness-selectors. Revolutionary, more than "smart conditional payments"
this inverted model of power... is Byteball strength, killer feature.

See, bitcoin is rule-enforcing, and has no clear rule-makers, Ethereum has, and we know The DAO. Most tech which has a Foundation, that is the rule-makers. Those are the governors, the rule-makers.

Byteball, you dear users, the amount of transactions you can make, ie the amount of bytes you have, is the amount of POWER you HOLD. Over, witnesses, which are rule-enforcers only.

Start using https://byteroll.com/ as your hub today, select the BEST witness! Bringing you the best insights!

Inspired by
 https://www.oii.ox.ac.uk/blog/the-blockchain-paradox-why-distributed-ledger-technologies-may-do-little-to-transform-the-economy/