Quote from: HeRetiK on December 30, 2017, 11:39:09 PM

Even a decentralized system is only as strong as its weakest link if it has a single point of failure. See Ripple and how tokens are issued.

DNS does not have single point of failure and uses a tree structure of command but even if you took the top node down the system still works
and if needs be the structure could assign itself a new top level node using voting. Think more down the lines of Coordinators in relation to coins
to break nodes down into useful groups. Tree structure will scale better than what we have now, no brainier.

Coordinators will all so deal with trust rating so nodes that start playing stupid get blocked so good bye BS about 51% attack and hello GUID node
registration.

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The consensus protocol itself is quite interesting and I'm sure that LN has borrowed some pages from it (assuming there is no prior work on which both protocols are based upon) but I still find it hard to trust a payment network that relies on a central corporate entity for both development and token issuance. I'm sure that Ripple has merits of its own but it's not quite what I expect from a cryptocurrency.

The currency and network has got to be separated and it will be in the end so we all have a public address and any currency gets sent to the address
so in effect the wallet has one address instead of ten pub/private keys which are still present but used after handshake and protocol is setup.

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PoW is not about preventing spam transactions, it's about preventing double-spend attacks. Before PoW came along you couldn't rely on keeping a valid, reliable ledger state without a central entity acting as arbiter. Bitcoin's master stroke is making the network not only fault-tolerant against attackers, but actually using what would usually be an attack -- ie. brute force -- to protect the network from the very same class of attacks.

Spamming, double spend both prevented by PoW from what i read but PoW stupid and is being dumped by everyone even in the forks.

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I'm not sure I quite follow you here. You don't need to rely on DNS to connect to other nodes. You can't use DNS spoofing to fake transactions. Worst case you could probably prevent specific nodes from sending or receiving transactions, but that would require a lot of targeted resources without much impact on Bitcoin as a whole.

Virgin nodes at startup use DNS to get list of well know nodes and i can find you the address if you like but after that it uses cached IP-Address to find
a live node on the network and nodes relay between each other a list and the state of other nodes. I am talking new node start up.

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Assuming you haven't already, you should really look into how LN works. You might be surprised that it's not quite the plaster you expect it to be.

I did and you did not deal with what Alice sends to bob and you are forced to accept Coordinators (Hubs/Gateways) in LN anyway so why not
wrap it up by breaking the 200gb block-chain down into more a tree structure and then it will scale better and you don't need IOU's or fake tokens.

Block-Chain is a liked list of headers but groups of nodes organised by Coordinators can deal with sections to provide redundancy within the section so in effect the LN patch up
(or rewrite in disguise) is at the wrong level and as a transaction hits one set of node then a request will be sent to another set of nodes but after that the reply will be cached
Here I am talking about having to trace back down the chain to the origin of each coin part back to when it was mined

Mining is a waste of time, nodes get paid for transactions, far too much time and effort plus code is dedicated to printing new coins
and ten possible alternatives exist here so stop the competition where effectively nodes are fighting other nodes and making hardware
manufactures and big oil rich and happy. THIS PART IS THE BIGGEST FUCK-UP EVER DEVISED MY MAN!

Break the current 200gb Block-chain down to say 16 X 16 sections and each section has a group of nodes then you will start getting some speed but if i am honest
it's patching something instead of having a white sheet of paper to work from and i think that's whats needed and i will add this concept of public ledger we all
love and trust does allow anyone to clone it and produce a forks so that needs a long term solution

Maybe wallets need voting rights so we can appoint people as trustees and then go at it from that angle because all S-M has done is left a mess that won't scale, wastes
energy and started CPU wars plus allows forks and clones.