Building a truly decentralized system with a distributed key generator

hackernoon.com

16 pointspoojungle4 comments

This demonstrates that other blockchains really should consider how far we can or should take decentralization. Andrew Thompson certainly has taken this idea to the next level.

Why do no other blockchains use key generation like this? Is it really needed?

A number of blockchains allow the miners to choose the transactions they include in a mined block. This adds additional challenges around miners picking the highest paying transactions, or worse, specifically/maliciously excluding transactions.

Threshold encryption means we can have (1) transactions be encrypted and only inspected _after_ they have been accepted as part of a block, and (2)break any deadlocks in consensurs agreements.

Helium isn't the only one using DKGs but they're certainly not trivial to implement well.

probably because most networks aren't truly decentralized

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