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Re: Private 'Distributed Ledgers' Miss the Point of a Blockchain

From: David Nicol <davidnicol@gmail.com>
Date: Thu, 29 Oct 2015 13:01:39 -0500
Message-ID: <CAFwScO80v_s+KKYgzYjRFTDyih+ypmLqD2kYVOh1Z-3E=CtFLg@mail.gmail.com>
To: Jae Kwon <jae@tendermint.com>
Cc: Melvin Carvalho <melvincarvalho@gmail.com>, Interledger Community Group <public-interledger@w3.org>
On the other hand, complaining that some proposed inter-ledger
communications protocol fails to address the issues that some particularly
complicated ledger system effectively addresses may miss the point of
talking about inter-ledger communications protocols.

Blockchain provides completely replicated distributed ledger data at high
energy cost.

Bitcoin Blockchain is a ledger. Collected journal entries are written into
it about every ten minutes. The service of writing journal entries to the
ledger is continuously auctioned.

Operations at the ledger level include:

    ways to insert new journal entries
    ways to reject/allow/accept journal entries
    ways to query ledger state
    purging policy

I just came up with "allow/accept" to differentiate between temporary and
settled states of a journal entry. An "allowed" entry would be like a
credit card hold, an "accepted" entry would be like a transaction that has
been written into the blockchain and verified. There may be better choices
for those words.
Received on Thursday, 29 October 2015 18:02:08 UTC

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