This article was first published on RChain Cooperative - Medium
17 May 2021
i am writing to you in my capacity as president and founder of RChain Cooperative (rchain.coop). Having seen Tesla’s very public flip flop on BTC, i was very encouraged. Yes, blockchain is an incredibly important development. No, BTC (in fact any proof-of-work protocol) is not a responsible implementation of the key ideas. These are exactly the right conclusions.
With those very conclusions in mind, in 2017 we founded RChain Cooperative with the singular purpose to build the world’s most scalable, environmentally responsible blockchain. RChain is now over a year in mainnet, releasing key features such as last finalized state and block merge which allow not having to go all the way back to genesis block to guarantee transaction integrity and concurrent execution of isolated transactions, respectively.
What is so important about blockchain that it merits top to bottom re-engineering? Over the past three decades i have looked with profound concern at the consequences of climate change and concluded that if humanity wants to get out of this alive it will have to coordinate and cooperate in a manner it has never before witnessed. Recently, even Bill Gates conceded, in his recent 60
Minutes interview, that it will take global coordination and cooperation at a scope and scale surpassing what was seen during WWII. Yet, in that same interview Bill does not mention a single coordination technology in all the projects he’s working on or investing in.
We believe that blockchain offers a pivotal coordination technology, and i do mean blockchain, not cryptocurrency. At the heart of any blockchain worthy of the name is an economically secured, leaderless distributed consensus algorithm. Proof-of-work (used by BTC and Ethereum 1.0) is just one of many such. But it is not and cannot be made efficient enough to scale ...
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RChain Cooperative - Medium