systems, such as Bitcoin, that lack any single central authority to validate their operations and which have to use other means to determine the validity of operations.

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3
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2answers
151 views

Is centralization in the Lightning network inevitable? Why (not)?

Especially keeping in mind the possibility of single-funded channels (see Tadge's Google Doc Slides), buying from an exchange and concurrently opening a payment channel on the Lightning network would ...
6
votes
1answer
90 views

Why would increasing the Bitcoin block size lead to a more centralised system?

Why does Bitcoin Core contributor Peter Todd think that increasing the Bitcoin block size would lead to a more centralised system? “The system doesn’t scale, and you just have to accept that and do ...
4
votes
3answers
146 views

Has the bitcoin network ever been “down”?

I'd be interested to know if the bitcoin network has ever been down. By "down" I mean that a client would not be able to synchronize with the network to obtain data like the txs in the mempool or ...
1
vote
1answer
199 views

How long do files stay on the Decentralized Data Storage blockchain when using NXT's Data Cloud Feature?

NXT 1.7.4 just released a new Data Cloud feature: How long do files last on the NXT blockchain?
2
votes
2answers
46 views

Is simplified payment validation (SPV) decentralized?

Is simplified payment validation (SPV) decentralized? Viz., when an SPV client wants to verify a payment, does it connect to a central server or to several random peers, checking that their Merkle ...
2
votes
2answers
48 views

Is Bitcoin a decentralized time-stamping authority?

Can Bitcoin/blockchain be thought of as a decentralized time-stamping authority (TSA)? Is there true consensus in the Bitcoin network on a mined block's time, or just that the block was mined?
1
vote
1answer
87 views

Are there any complete Bitcoin systems?

It seems to me that to keep Bitcoin both decentralized and secure, the whole of the Bitcoin process should ultimately depend on each user, or rather, that the involvement of each user should ...
5
votes
2answers
182 views

Is Ripple centralized or decentralized?

Are people still fighting about this or have they come to a consensus? Also, as of today (Sep 2015), what is the main advantage of Ripple over Bitcoin?
0
votes
1answer
54 views

Decentralized Data Storage System in NXT - How do you disable the 2 week data pruning?

Currently the NXT platform has the ability to store data in its blockchain, whereby making it a decentralized data storage system. But the thing is that the data is purged from a nodes blockchain ...
0
votes
1answer
47 views

Embedding P2Pool technology in Bitcoin Core

As far as I understand, P2Pool is a way to decentralize mining. I don't know all the details, but it allows to distribute the mining rewards by the parties involved, fairly and without a centralized ...
2
votes
2answers
490 views

What security threats does blockchain technology solve or present?

I am interested in security, identity and authenticity in electronic networks. What sort of security concerns could blockchain technology help with and what sort does it pose? Are there entry and ...
1
vote
4answers
122 views

Is There a Safe Way to Decentralize or Spread Ownership of a Company Using Bitcoin or Altcoins?

We are starting a social enterprise that is focusing on home oriented products and services - starting with real estate brokerage services. The profits from this organization will be used to battle ...
2
votes
1answer
88 views

Are transactions in a block decided by mining pool operator?

My assumptions: Most pools have an operator. All individual miners part of the pool work on block with address of the coinbase transaction owned by pool operator. pool operator gets all the bitcoins ...
2
votes
1answer
259 views

What is Multi-PPS (Pay Per Share)?

I know the original proposal on bitcointalk is here, but can someone explain it more succinctly? How does Multi-PPS work? Can it actually prevent mining centralization?
3
votes
1answer
562 views

How to store 30kb file using Decentralized Blockchain Data Storage on NXT (nxtcoin) by attach messages?

I'm curious to how would one store a 30kb file on the NXT blockchain since the NXT protocol can attach a 1000byte message. My test scenario is storing a 30kb midi file on the nxt blockchain and then ...
2
votes
1answer
74 views

How does Darkcoin achieve anonymity without centralisation?

Darkcoin is supposedly completely anonymous. How does this work without any centralisation? Is there one person with all the transactions and only they mine?
1
vote
1answer
182 views

Is multi-PPS the correct solution to the mining centralization problem?

See this post. Meni believes that this could be the correct solution to the mining pool centralization problem, and that are no known drawbacks. There is some work that needs to be done to write, test ...
0
votes
1answer
69 views

Decentralized product inventory (instead of simple orderbook)

I am thinking of creating a decentralized market place with public bidding. AS far as I have researched all cryptocurrencies and such only offer public ledgers with simple orderbooks. The only data ...
0
votes
2answers
37 views

What are the pros/cons of the Multigateway service on NXT?

I'm doing some research on the decentralized exchange multigateway on the NXT platform. I was wondering what are the pros/cons of this service compared to centralized exchanges like cryptsy?
13
votes
1answer
525 views

How will bitcoin stay decentralized when mining becomes extremely expensive?

My understanding of bitcoin is that the miners are the ones keeping bitcoin decentralized. What happens when only the richest of people can afford mining?
7
votes
3answers
844 views

What are some of the advantages & disadvantages of the following: Colored Coins and Counterparty

Seeing the release of coinprism wallet for colored coins and I'm also playing with counterparty.co What are the main differences among these two competing decentralized asset managers? I see that ...
4
votes
2answers
229 views

Decentralized democratic voting [duplicate]

Has the fundamental problem in cryptovoting, one person, one vote, in a completely decentralized or blockchain centric manner been solved? In other words, how can votes be allocated in a ...
5
votes
1answer
129 views

Incentive for mining by regular users

Most of the time that a regular user gets introduced to the concept of mining, they're immediately non-incentivized by the community and also by the high-cost of hardware compared to the actual ...
1
vote
1answer
95 views

If the supply of Bitcoin is regulated, how could it be said to be decentralized?

The minting of new bitcoins is deterministic, and there will eventually be a cap to the production of new bitcoins. Why do we say that bitcoins are a decentralized currency if they are created in such ...
2
votes
1answer
256 views

Do we know who runs the big mining pools?

After looking at the hashrate repartition https://blockchain.info/fr/pools. It seems to me that bitcoin is quite centralized, and that two big actors (mining pools company who run the bitcoind server) ...
1
vote
2answers
310 views

Would a professional ASIC-machine holder eventually become a bank-like character?

As we know, one of the concepts of Bitcoin is to be "decentralized". When individual miners, even with ASIC miners, become unprofitable, will the system become more centralized to those several superb ...
1
vote
3answers
774 views

Is there any centralized cryptocurreny?

Is there any centralized cryptocurrency? Is cryptocurrency a Bitcoin oriented concept only? From what i read almost all of the cryptocurrencies are derivatives of Bitcoin.
3
votes
1answer
452 views

Is there a list of all cryptocoin currencies? [duplicate]

Apart from bitcoin, I know few other crypto currencies (by this I mean currency which works in a similar way to bitcon). They are: namecoin lightcoin ripple I also heard about SolidCoin, but as ...
3
votes
1answer
139 views

Why is decentralized e-commerce good or better?

All of the promotional materials (videos, papers, articles, etc.) on Bitcoin bill it as a decentralized solution for e-commerce/online financial exchanges that bypasses traditional banks, federal ...
7
votes
1answer
680 views

What is the Ripple equivalent of the “51% attack?”

In Bitcoin, if a participant gains control of more than 50% of the hash power, they can execute a double-spending attack. The "attack" could come from within, say if the existing powerful miners ...
13
votes
3answers
5k views

How is a hard fork resolved?

In March 2013 there was a fork following the v0.8 release. The issue was resolved rather efficiently, as explained in the post-mortem report. However in this process there were winners and losers: the ...
1
vote
1answer
273 views

Where does bitcoin-qt try to connect to when running for the first time? [duplicate]

My question is, where does bitcoin-qt try to connect to when running for the first time? How does it know where to connect? Is blockchain.info some domain that has discovery services? If yes, then ...
1
vote
4answers
721 views

Is mining the unfair part of bitcoin in the same way banks (or rather, fractionary reserve systems) are to current monetary system?

I've been reading a lot about bitcoin lately and I'm very interested. Especially, when it comes to making a currency that is way more fair, because it avoids a centralized control of it. However, in ...
3
votes
0answers
63 views

What are some resources that analyze “how centralized Bitcoin really is”

Are there any blogs that track the centralization in Bitcoin? Is it growing, or is Bitcoin becoming less centralized over time? E.g. I believe mining pools have become somewhat less centralized in ...
1
vote
1answer
87 views

Is there a way to create decentralised rating system akin to #bitcoin-otc?

I'm wondering if there is a way to create a ranking system similar to #bitcoin-otc, but making it decentralised?
13
votes
1answer
5k views

What is the P2Pool?

As I was checking this SE, it doesn't appear this important question has been asked: What is the P2Pool? How does differ from the traditional approach and what does it offer its users?
7
votes
3answers
977 views

Decentralized escrow functionality built into Bitcoin?

AFAIK there are a few websites out there that offer escrow services for Bitcoin. Those however are central, i.e. I have to "trust" them. Is it being discussed, is it theoretically possible, or does ...
25
votes
2answers
990 views

Do mining pools centralize the Bitcoin network and make it less secure?

A mining pool with a significant percentage of the hash rate could allow double spend attacks by the pool manager. There are a number of pools that approach this level. However, most people say that a ...
9
votes
2answers
385 views

Decentralized transactions between two decentralized currencies

Currently, bitcoins and namecoins are implemented using the Bitcoin protocol. And there might be several reason for new block chains to appear, but this is not the subject here. As far as I know, ...