Quote from: TonyBaloney on August 25, 2024, 06:46:45 PM

The good thing about such a cryptocurrency is that it does not require any "core" software to interact with the network. The only "rule" that exists is what a preimage should look like, everything else is irrelevant. There is no block reward, no difficulty adjustment, no block size limit.... it all happens chaotically like water flowing downhill.

The overall purpose of this exercise is to try to imagine a cryptocurrency with as few arbitrary design decisions as possible.
Bitcoin and other cryptocurrencies are basically just hundreds of arbitrary decisions cobbled together into something that works. It works, so I can't be that critical of it, but I think we can do A LOT better if we rethink from first principles, and try to avoid arbitrary design features.

Maybe you'll like an idea of consensusless cryptocurrency. Instead of consensus mechanism, it relies on quantum unclonability to solve double-spends. Although personal quantum computers are in a galaxy far, far away... there are theoretical works towards, for example, https://arxiv.org/abs/1711.02276

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