commit 4882359d2857044317e1b1c6a504951658c8e368
parent ac886a6e46703d0092d010c280070a83fd8c158e
Author: Christian Grothoff <christian@grothoff.org>
Date: Thu, 27 Oct 2016 15:11:14 +0200
consistent spelling of blockchain, focus on key points
Diffstat:
1 file changed, 4 insertions(+), 3 deletions(-)
diff --git a/doc/paper/taler.tex b/doc/paper/taler.tex
@@ -188,13 +188,14 @@ transactions are recorded for eternity, which can enable
identification of users. In theory, this concern has been addressed
with the Zerocoin extension to the protocol~\cite{miers2013zerocoin}.
-These protocols dispense with the need for a central, trusted
-authority, while providing a useful measure of pseudonymity.
+The key contribution of blockchain-based protocols is that
+they dispense with the need for a central, trusted
+authority.
Yet, there are several major irredeemable problems inherent in their designs:
\begin{itemize}
\item The computational puzzles solved by Bitcoin nodes with the purpose
- of securing the block chain consume a considerable amount of energy.
+ of securing the blockchain consume a considerable amount of energy.
So Bitcoin is an environmentally irresponsible design.
\item Bitcoin transactions have pseduononymous recipients, making taxation
hard to systematically enforce.
