Researchers offer blockchains for central banks but not affiliated with the Bank of England - CoinDesk

Two London researchers have proposed a new kind of cryptocoORGAR for central banks, which keep the network command under the control of central authority by holding a transparent, distributed groove.

Presented in the first San Diego Network and Distributed System Security (NDS) symposium, RSCoin concept was created by George Dengis and the entire McLion of University College London.

On their white paper, Denizis and Mikljen, says that the Bitcoin network is survived by a scalability problem connected to its computationalized scientific mining process, by which energy is used to protect a trusted account of the transaction.

Under the proposed RSCoin framework, this responsibility is governed by the network of legitimate networks known as "Minutes".

The author says:

"RSCoin's fundamental changes from traditional cryptrocracies are the centralization of financial supply. Each unit of a given currency is made up of a central bank, which, based on RSCoin, cryptokurabics is important to the government, which is important to the central government, RSCoin is still a transparent trading account. Non-crypto) currencies, it A distribution system to keep inventory, and provide benefits on the supply of global financial visible. "

"This makes the currency policy transparent, allowing direct access to payment and value migration, supports impersonation and benefits from the innovative use of blocks and digital money."

Denizis and Mikljen told Syndesk that this project was independently operated by the Bank of England, which recently introduced the idea of ​​launching its own digital currency based on Bitcoin.

"I want to make it clear that this work has not been funded by the bank," said Miklijón. He also said that before working in this effort, he did not talk to the bank.

It was inspired by the Central Bank's Digital Currency Research Agency.

#Central currency
According to the white paper, among the major differences between RSCoin and bitcoin, the valid purpose of network validating, or mintettes is.

The authors say that, instead of being in power to solve the next transaction block based on potential anonymous mining management, Minitets are bundled and sent by the central network authorities for the transaction.

"In a nutshell, Minitates collects transactions from users and compiles their blocks, as is done with traditional cryptocouraches", the author explains. "These mints are different from conventional cryptocarcus mining, however, an important way: to perform some computationally difficult tasks Instead, every mint is a collection of transactions by the central bank only Approved. "

Danzis has projected this project as a project project, which is said to be "no plans to run RSCC".

"The current implementation is incomplete and focused on performance evaluation for most of the scientific advertising." He told Syedkk, "We have no plans to build a full currency system and we do not know as much as we know it."