Community / Open source Private Blockchains
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Private Blockchains
Private blockchains have taken on a new meaning in the discussion of smart contracts as an alternative use of the blockchain.
Wheras, private blockchains were being disused as methods of restricting what was visible of personal transactions on the blockchain, it now refers to companies making “development environments” and “key systems” to enable the running of their own blockchain.
It was interesting that private blockchains can process 100,000s transactions a seconds, whereas Bitcoin is limited to 3…
Watching some presentations by companies involved (one ( Tendermint ) was wearing a kilt and did a Rap (Eughhh), it is clear private blockchains are not popular with Bitcoin purists …
Feathercoin Private Blockchains : how could that work?
It would be “relatively” straightforward to develop NSGminer to be “key based” and to add a key system to Feathercoin.
This would make it easier for the creation of open source private Blockchains.
This would empower smart contracts and smart uses of private blockchains, for say “charities” or “schools” where one or two computers can process the transactions, but they can be on the open network for failover.
An address key is generated by your Feathercoin wallet or feathercoind. In NSGminer, an additional setting for “key based mining” you enter the key or keys of the network. The comments field or a new field is used to pass the key, NSGminer only processes blocks with correct key. The public version could be on the same network but pass the public key or detect no key = public.
The fact of it being an Open Source solution and Feathercoin will be operable in private or public mode but retain the same code base may attract additional developers / interest. There would obviously be a need for further key based tools, explorer, p2pool, key switchers, etc).
[Blockchain Smart Contracts in Any Language with Tendermint TMSP ] https://www.youtube.com/watch?v=9krAQzN6tbc
