I am interested in developing a crypto-currency (who isn't), but I have no interest in the blockchain mining aspect of it. I want to program one that emits the coins when someone has performed some verified work in the real world.

So, does that still require the use of blockchain?

  • 1
    Printing money is illegal in a lot of countries. Careful. There's a reason Bitcoin is decentralised and therefore needs a blockchain. Look up the histories of hashcash and Liberty Dollar. – Jannes Apr 27 '16 at 21:22

I want to program one that emits the coins when someone has performed some verified work in the real world.

This is fiat currency. You receive some coins for performing some work for someone :) No blockchain needed


The blockchain is simply a solution for decentralized consensus. Think of the blockchain as a big database that contains a ledger of who owns how many coins. The question is, who can be trusted to maintain this ledger? If a single entity owns it, then that entity can act maliciously (steal other people's money) or be coerced/shut down by governments. The blockchain is a solution to create a ledger where nobody is in charge, but rather operates by agreement. The proof-of-work that miners perform make it unfeasible for any one individual to control the entire network.

If you don't have the need for decentralized consensus, then you don't need a blockchain. It sounds like you want to be in complete control of the issuing of new currency, and therefore, a blockchain would be a wasteful solution for you. If you don't want your currency to have any central authority, then a blockchain is a well-vetted solution. It all depends on your intent.

  • I want just to add: the adversary model for blockchain is: everyone is entitled to manage a copy of the ledger, everyone claims his copy is the true one, everyone tries to cheat and tamper the ledger in his favour. The Proof-of-work addresses this model. Your model is different – Davide C Apr 28 '16 at 14:10

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