A Bitcoin system with no mining and no history transactions: Build a compact Bitcoin system

There are some alternative Cryptocurrency systems which claim that they are based on PoS are actually based on PoSTW which denotes the Proof of Stake(coin), Time(day) and Work(hashing), while the other pure PoS Cryptocurrency systems are actually centralized. In this paper we propose a new framework of Cryptocurrency system. The major parts what we have changed include, a fast transparent distribution solution which can avoid deceptions between the sponsor and the audience, removing the bloated history transactions from data synchronization, no mining, no blockchain, it's environmentally friendly, no checkpoint, no exchange hub needed, it's truly decentralized and purely based on proof of stake. The logic is very simple and intuitive, 51% of stakes talk. The highlight of this paper is a proposal of a new concise data synchronization mechanism named "Converged Consensus" which ensures the system reaches a consistent distributed consensus. We think the famous blockchain mechanism based on PoW is no longer an essential element of a Cryptocurrency system. In aspect of security, we propose TILP & SSS strategies to secure our system. At the end, we try to give an explicit definition of decentralization. As the new system is purely based on proof of stake, naturally, we must have an initial statistical distribution of stakes among the users. In this new framework, the initial distribution of stakes and the implement of the system is completely separated and independent. The initial distribution of stakes is just treated as a parameter to be input into the system, a different initial distribution of stakes means a different Cryptocurrency system. Whatever way the initial distribution is acquired, it's qualified if it's widely acknowledged and trusted by the users. We can even directly fork a distribution of stakes in the blockchain of some existing Cryptocurrency system, such as Bitcoin system, to be input into a new system, then the new system which inherited the distribution of stakes of the Bitcoin system will start to run under the new framework [APPENDIX A]. Here, we'd like to introduce a new method of fast distribution of stakes within several months. It's a completely transparent distribution, no one can cheat including the sponsor himself. Suppose an internet company X-Company plans to issue 10 billion of Cryptocurrency named "X-Coin". Who are the audience of the distribution? All existing accounts from some existing Cryptocurrency systems, say Bitcoin Litecoin or Dogecoin(sorry, there is no absolutely fair distribution), which had activities …