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The Blockchain Virus: Can a blockchain pay to replicate?

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The Blockchain Virus: Can a blockchain pay to replicate?

Duration: 00:23:00

Speaker: Sergio Lerner

Type: Talk

Expertise: Intermediate

Event: Devcon 3

Date: Nov 2017

Full nodes provide many services to a cryptocurrency network: data forward, blockchain storage and retrieval, and some privacy and DoS protection. But as the resources consumed by a blockchain network grows, so is the node cost. Full nodes are usually altruistic, they take resources from their peers and they give back. But there is no immediate benefit to give back. This problem, which can lead to a tragedy of the commons, was early identified in the “Red Balloons” paper. Some solutions involve using master-nodes, leading to centralization risks. In this talk we’ll show how to create a fully decentralized system for rewarding full nodes that is fully autonomous, and controlled by a smart-contract.
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