Whitepaper: Bitcoin Cooperative Proof-of-Stake Stephen Reed

Note that the May 2013 whitepaper above describes a hard fork of bitcoin. That cannot possibly happen unless TexaiCoin is successful and subsequently convinces the Bitcoin community that a good alternative exists for the current industrial mining method. Furthermore, the current approach is not proof-of-stake. Now the block rewards are used to pay for network infrastructure, developers and community support, e. g. through institutions such as the Bitcoin Foundation.

I will briefly speak, describing my approach, at the Hashers United Conference in Las Vegas next month on the mining algorithms panel.