A Founding Father of Blockchain Praises Electroneum, Compares Security with the of Bitcoin’s | BTCMANAGER
Bitcoin, Blockchain & Cryptocurrency News
Dr. Scott Stornetta is the blockchain co-inventor quoted in the Bitcoin whitepaper written by Satoshi Nakamoto, who created the first cryptocurrency in 2009. The globally renowned scientist considers himself as the person who “has spent longer thinking about blockchain than anyone else on the planet. I have a really long-term perspective of this technology.”
His Views on Electroneum
Stornetta recently met with Electroneum CEO Richard Ells and during a conversation, he told him, “I understand what you’re doing with the Moderated Blockchain and your unique Proof of Responsibility protocol.
“I’m happy to recognise that you have grasped the breadth of the design space. Also, that you are flexible enough and open-minded enough to be still exploring how to get the balance of the mix. And that’s something that I’m able to encourage wholeheartedly.”
He went on to say that many cryptocurrency projects reject the notion of becoming regulatory compliant. Others, he said, are not seeking ways to add value as is Electroneum for the end-user. Many more, he said, also reject combining features of decentralization and centralization to make their cryptocurrencies more secure and eco-friendly.
What Appeals to Stornetta about Electroneum
Dr. Stornetta explained what to him is so appealing about Electroneum: “I admire, in particular, companies that have a long-term goal that is more than profit-maximizing, but that is actually a collective better.”
“I also simultaneously admire companies that are flexible about their means of getting from here to there.