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- Is there any centralized cryptocurreny? 4 answers
Is it possible to create a bitcoin-like system that has a central authority?
I know that the reason that many people like bitcoin is that it is completely unregulated, but I was thinking that a "central bank" of sorts could make a cryptocurrency more like a real currency (less subject to huge short-term fluctuations) if it were able to create cash.
Would this be possible to do cryptographically (within the algorithm itself), or what would it require?
EDIT: More specifically, what would be the best way to do it?
EDIT2: I still want to keep the P2P transaction system, just have a central regulation system that can create and destroy coins. I wouldn't want to do something like Arscoin where the server maintenance was less than optimal, to say the least.