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by DyslexicAtheist
3652 days ago
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Streembit[0] is missing in the discussion. It's not a new company and just a FOSS project. I believe it has same if not better potential than Ethereum[1] but without the risks associated with Ethereum or Bitcoin (e.g. Sybil attacks, blockchain block size debate, time it takes for proof of work, fully decentralized* etc). Plus it is up and running and can be tested by anyone who wants to give it for a spin[2]. Compared to Ethereum it has optional blockchain hooks, but uses a Kademlia[3] DHT. One can inject scripts that achieve more complex tasks (Smart-Contracts, Code to use the blockchain instead, centralization[4] logic, etc) on top of the Streembit network by injecting the Javascript into the DOM. Streembit is currently the only such project actively participating to W3 Web of Things standardization group and already incorporates all currently evolving standards put forward by the W3 Web of Things (WoT). We're working on a proposal to standardize "IoT over P2P" that we can put forward to IETF. [0] https://streembit.github.io [2] http://blog.valbonne-consulting.com/2016/06/09/streembit-hel... [3] https://en.wikipedia.org/wiki/Kademlia [4] despite popular believe P2P networks suffer from centralization issues in P2P bootstrapping. Also Ethereum is not truly decentralized as the DAO attack shows Disclaimer: I do not financially benefit from evangelising Streembit though I'm a voluntary contributor to the project so my position is certainly one that I would want to see them succeeed. |
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That's a fairly modest problem. You need a bunch of nodes with above-average capacity to handle the bootstrap traffic and a way to occasionally update lists of such nodes. But a bunch of 10$ per quarter virtual boxes at a hoster of your choice and a bunch of domains with DNS SRV records can do that job.
In the absence of any/multicast-for-everyone someone will have to pay a little money or (ab)use a handful of non-decentralized services for the bootstrapping but that's more of a philosophical problem than a practical one.
There certainly is no single point of failure, you can have plenty of redundancy in the bootstrap process.