Who needs a blockchain, when you can have blocktrees?
Bitcoin is lauded for being decentralized, which is one of its important features. The network has no central point of failure. But from an information perspective, bitcoin is centralized. All transactions must go into a single blockchain, a unified informational artifact.
By contrast, trust-ledger uses a decentralized network AND decentralized information practices. Each transaction only needs to refer to previous transactions which it depends on. This creates interweaving blocktrees instead of a single blockchain.
With trust-ledger you only need replication and notary validation sufficient to meet the standards of your accounting community. There’s no extra work involved. It’s fast, efficient, powerful, and flexible.
The biggest weakness of trust-ledger, is it doesn’t exist yet. It currently exists as concepts only. I claim it is completely well defined, other than certain implementation details that are intentionally flexible. But the design is good, though I hope you question whether this design will work and challenge me where you see problems, because that is how we can move this project forward.
I’ve been focusing on some other projects in the meantime, you can always check out my github, like this project:
Have a great day!