Post
Topic
Board Development & Technical Discussion
Re: replacement for pow
by
DooMAD
on 27/04/2023, 21:30:04 UTC
Bitcoin's decentralized and permissionless nature is its biggest advantage but also its biggest weakness: it's too easy to create fake nodes.
But I believe that a permissioned and decentralized network is also possible. For a node to enter the network, a 51% approval of validators already approved in the network is required.
Then we created a community on some social network or on this forum and created a kind of web of trust  https://en.wikipedia.org/wiki/Web_of_trust.

It sounds like a solution that's searching for a problem.  The whole idea of a blockchain is that it lessens the need to rely on trust, so trying to shoehorn trust back in to the equation is regressive.  We used to have some hardliner fanatic types around here who maintained their own "Web of Trust", but they were just elitist loons and they've (thankfully) fallen pretty silent in recent years. 

Bitcoin has had an open and permissionless ethos from day one and I can't ever see that changing.  Would-be gatekeepers don't tend to make much progress around here.