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diff --git a/doc/paper/taler.tex b/doc/paper/taler.tex index 36bda391c..fd9fbeac5 100644 --- a/doc/paper/taler.tex +++ b/doc/paper/taler.tex @@ -188,13 +188,14 @@ transactions are recorded for eternity, which can enable identification of users. In theory, this concern has been addressed with the Zerocoin extension to the protocol~\cite{miers2013zerocoin}. -These protocols dispense with the need for a central, trusted -authority, while providing a useful measure of pseudonymity. +The key contribution of blockchain-based protocols is that +they dispense with the need for a central, trusted +authority. Yet, there are several major irredeemable problems inherent in their designs: \begin{itemize} \item The computational puzzles solved by Bitcoin nodes with the purpose - of securing the block chain consume a considerable amount of energy. + of securing the blockchain consume a considerable amount of energy. So Bitcoin is an environmentally irresponsible design. \item Bitcoin transactions have pseduononymous recipients, making taxation hard to systematically enforce. |