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It’s been a long arduous journey, but I think I’ve finally unpicked what it is that allows the Obyte DAG DLT to provide a secured network and prevent double-spend attacks without requiring proof of work.
I think the key is that there is a permissioned ledger backbone provided to the system by the witnesses, who allow anonymous transactors to participate on the network. I hadn’t really thought about this “middle way” before.
I have the next video ready, in which I ask a few questions about how this system might continue to function under a few unusual scenarios. Keep an eye out for that.
What Do Hybrid Blockchains Do, 7. How a hybrid permissioned/open distributed ledger can provide cheaper consensus.
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