Making Currency Inexpensive with iOwe
نویسندگان
چکیده
We introduce iOwe, a deferred compensation scheme that can be used in a broad range of decentralized systems. iOwe is reminiscent of a currency scheme backed by a precious commodity: network resources. iOwe does not require a central authority, proofs of work, continuous connectivity to currency issuers, or trusted storage. Instead, in iOwe, any principal may issue their own currency, in any amount, at any time. ”Currency” in iOwe, called iotas, is a promise of future work, bootstrapped by peers’ trust of one another. We present several applications of iOwe, and an evaluation in the context of bootstrapping video streaming systems.
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