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Review on Qtum by Thomas Son
A consortium blockchain is often said to be partially decentralized, where the…
A consortium blockchain is often said to be partially decentralized, where the consensus process is executed by a small group of authorized nodes. For example, a consortium of three game companies plan to launch a blockchain with cryptocurrencies which can be spent in their games. Each of them runs a node to verify transactions and mine blocks. Game players, however, only have access to reading blocks and sending transactions. In this situation, just the three authorized nodes need to reach a consensus on block producing.
Pros
- Blockchains like Bitcoin, Ethereum and Qtum are called public blockchains. They have no access restriction. Anyone can send transactions to them as well as participate in the block creation process. In these cases, many consensus algorithms are developed, such as PoW (Proof of Work) and PoS (Proof of Stake), allowing a large number of users to reach a consensus about who can mine new blocks. These blockchains are generally considered to be fully decentralized.
Cons
- I don't think Qtum is in hands of BTC to fix its scaling issue. i mean it's obvious core team already gave up with scaling while ago. ETH has something like 5-6 scaling solutions waiting in the line while BTC has only one, only one scaling solution which is LN.
