On Sat, Mar 1, 2014 at 3:19 PM, Jed Rothwell <jedrothw...@gmail.com> wrote:
> James Bowery <jabow...@gmail.com> wrote: > > What I expect to happen next is a new cryptocurrency protocol will be put >> in place that distributes the network effect along with the underlying >> cryptocurrency protocol. >> > > So not only will be it be God-knows-what algorithm, it will be stored > God-only-knows where. My guess? The servers will all be found in Russia. > You misunderstand the nature of the cryptocurrency public ledger perhaps because you don't understand the word "distributes" in this context. There would be no servers at all. The public ledger of a cryptocurrency is not resident anywhere. It is replicated everywhere. That's what I mean by "distributed". Likewise, the bids/asks of a distribute exchange would be replicated everywhere and resident nowhere, with a similar public ledger backed by proof of work. The cyptocurrency public ledger system follows what I called "The Primary Discipline" when I was designing the network architecture of the first electronic newspaper for the Knight Ridder chain of newspapers in 1981 and was responsible for the cryptographic electronic commerce programming of the terminals: "The terminal is the host computer nearest the user." In other words, the primary discipline I declared way back then was that there were to be no fundamental distinctions between personal computers (at that time, "terminals" were in a position to supplant the entire PC era because they had microprocessors in them and we were attempting to jumpstart the Internet 15 years earlier) and servers. The TCP/UDP protocol actually allowed for this but, not the first web browsers, unfortunately. With some of the newer web browsers, however, we're starting to see what is called "P2P" or peer to peer communications protocols put in place -- so many some of the damage done by the initial WWW browsers will be undone.
