Really? So what happens if I shut down the central authority? | Hacker News

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sickpig on Feb 5, 2014 | parent | context | favorite | on: Bitcoin hash-rate exceeds total computing power of...

Really? So what happens if I shut down the central authority?

betterunix on Feb 5, 2014 [–]

This was already addressed by the research comminuty:

http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.105...

In other words, you can set things up so that no single authority can fail in a way that would cause the entire system to fail. You can have N authorities such that a minimum of K are needed to keep the system working.

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