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?:abstract
  • Blockchain-based systems are enjoying unbroken popularity. Different economic and social actors are investigating their application for fostering decentralization and separation of power. Whether a blockchain-based system can live up to such goals is heavily determined by the choice of a consensus protocol - the rules by which participants agree on what gets added to the blockchain. Bitcoin’s consensus protocol is inherently decentralization-enabling, at a notoriously high ecological cost. So-called permissioned protocols, while incomparably more efficient, are dismissed as being closed-off and "centralized". Federated blockchain systems represent a middle ground between these two extremes and promise to offer openness and security without sacrificing ecological sustainability. As a rough approximation, their approach can be described as bootstrapping consensus from a web of trust. In this overview article, after a short review of the Bitcoin approach and possible alternatives to it, we introduce the ideas behind federated blockchain systems and discuss their impact on future blockchain systems. (xsd:string)
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?:dateModified
  • 2022 (xsd:gyear)
?:datePublished
  • 2022 (xsd:gyear)
?:doi
  • WI.WS/26 ()
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  • true (xsd:boolean)
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  • en (xsd:string)
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  • 2748-5587 ()
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  • Federated Blockchain Systems: A better trade-off between sustainability and decentralization? (xsd:string)
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  • Arbeitspapier (xsd:string)
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  • GESIS-SSOAR (xsd:string)
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  • 26 (xsd:string)