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@ -3,10 +3,10 @@ layout: post |
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title: Namecoin, A Replacement For SSL |
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--- |
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At [cryptic.io][cryptic] we are attempting to create a client-side, in-browser |
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encryption system where a user can upload their already encrypted content to our |
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storage system and be 100% confident that their data can never be decrypted by |
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anyone but them. |
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At [cryptic.io][cryptic] we are creating a client-side, in-browser encryption |
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system where a user can upload their already encrypted content to our storage |
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system and be 100% confident that their data can never be decrypted by anyone |
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but them. |
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On of the main problems with this approach is that the client has to be sure |
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that the code that's being run in their browser is the correct code; that is, |
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@ -154,13 +154,11 @@ constantly increasing). When they find one they broadcast it out on the network. |
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Assuming the block is legitimate they receive some number of coins as |
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compensation. |
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When a block-chain based currency like bitcoin and namecoin, the element of the |
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system that keeps the currency going is there is compensation for doing the work |
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of getting items placed on the blockchain. If there were no compensation there |
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would be no reason to mine except out of goodwill, so far fewer people would do |
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it. Since the chain can be compromised if a malicious group has more computing |
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power than all legitimate miners combined, having few legitimate miners is a |
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serious problem. |
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That compensation is what keeps a blockchain based currency going. If there |
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were no compensation there would be no reason to mine except out of goodwill, so |
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far fewer people would do it. Since the chain can be compromised if a malicious |
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group has more computing power than all legitimate miners combined, having few |
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legitimate miners is a serious problem. |
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In the case of namecoins, there's even more reason to involve a currency. Since |
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you have to spend money to make changes to the chain there's a disincentive for |
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