[bsmith89]

I could be misunderstanding, but I think the problem with this approach is the lack of permanent identity. What's a "supermajority"? Could I get it by making a bunch of fake identities and having them all "trust" me?

Alternatively, we could ask for a supermajority of coins, and then I think we've re-invented proof-of-stake.

[verdverm]

You don't need coins, this is a permissioned chain where people agree on who can participate off-chain. Call it proof-of-authority. See Hyperledger Fabric