Hey guys, I've been working on a new protocol called the Marketplace which is a decentralized operating system that co-ordinates and economizes the execution of computational work across a peer-to-peer network of nodes. Where there is no barrier to the node participation.
Unlike proof-of-work systems, where nodes burn large amounts of energy to solve "non-useful" puzzles, the Marketplace organizes a peer-to-peer market of computational trade where nodes offload useful computational work called "jobs" directly to each other and pays in the system's native cryptocurrency, goldcoin(GDC). Effectively redirecting energy into real economic growth. Security without "Staking" is achieved using Proof-of-Capability (PoC), a new "sybil-resistant" mechanism that selects and incentivizes a small committee (“whiterooms”) to validate and reach consensus on the result of jobs without boggling down the entire network with redundant execution. This allows the amount of jobs handled in parallel to scale directly with the amount of nodes on the network analogous to an OS on a multi-core device. Real utility then comes from the "services layer" where nodes can compose stalls(modular services) into larger digital structures(e.g websites), and execute them regardless of size in near constant time by taking advantage of the parallel execution environment of the marketplace. The system’s monetary policy dynamically adjusts issuance such that price of execution is constant regardless of network load. Whitepaper (PDF): https://github.com/bajoescience/Marketplace/blob/master/Whitepaper.pdf I’d appreciate feedback on the design, especially on consensus security and the economic model, Thanks.
