Looking Forward To The BlockNet 'Build-Out' . . .
Thanks. Interesting perspective.
Miners aren't necessary in a PoS blockchain.
As for the matter of having to keep track of every single blockchain, that's not really true.
- the issue is that you'd need a way to tell that the other party has paid you, and vice versa
- since you're not on the other chain, you can't tell whether the other party has paid.
- so a decentralised exchange service could, say, set up an atomic group_sig (m-of-m) transaction between buyer and seller, and the two payments would happen as one indivisible contract.
- the chain that the exchange is built on would record this (this chain need not even be the chain of one of the coins in the tx)
- and your wallet would track this chain.
Done (hypothetically. I'm just riffing here; haven't heard from the devs yet).
They are going to clone all the innovative alts and make sidechains based on them. The monopoly power of bitcoin will be used to push adoption of these clones and destroy the originals. So they will not only be stealing innovation and destroying equity, their plan will also have a chilling effect on future innovation in this space. Why would a brilliant person develop a new coin only to have it stolen by the monopoly? A sane alternative would be the blocknet, where everyone is free to innovate and compete, but try telling that to bitcoiners.
Interesting Read, Great Dialogue . . .