Weak links, strong links, and the frailty of foam
Thoughts on digital specie and sustainable incentivization for blockmaking
Our AEIOU Director — Adrealm Editorial & Intelligence Operations Unit- Dr Ellis Cameron-Perry on Adrealm and its particular consensus mechanism PoVT — Proof of Valid Traffic.
A short preview of his article:
What is a blockchain’s strongest link? Is it the link between blocks? The “link” between network peers?
Is it the link that connects rewards and incentives?
Given that the strength of a public chain (qua distributed encrypted ledger) is only as strong as the net consensus-potential of the chain, what’s the benefit to participants and blockmakers if not some kind of payout digital specie (aka crypto)?
In the best-known systems, the key incentive (and thus: the real backbone of consensus-potential) is generally some form of enrichment in the form of DS. I’m going to call these DSRI consensus mechanisms: digital specie reward incentive consensus. There’s no way to pronounce ‘DSRI’ in English, but I suppose we could agree to refer to it with the sound “dizree.” It could stick. If it becomes a popular baby name in 2019, we’ll know it stuck.
In contrast with DSRI, the Adrealm consensus mechanism is Benefit-Realizing Incentive consensus mechanism (BRI).
[...]
The Adrelm model is therefore sustainable, because it is the blockchain counterpart to the offline model of the industry it serves.
It is based on the known kinetics of commerce in traffic, and not on the unknown dynamics of an economy based on Notional Prospective Fiat.
Read the full article on LinkedIn!
More on the topic in Contra Perfordere — Against Mining
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