Blocks can be cryptographically signed, allowing the creator of the block to verify their identity in the future.
Principal Investigator: Jorge Timón
SHA256d proof of work is replaced with the system’s scripting system, just signing blocks instead of transactions. In other words, the Dynamic Membership Multi-party Signature (DMMS) is replaced with a (Static Membership) Multi-party Signature. This has also been described in the past as “private chains”.
The Elements Alpha release uses a threshold of functionaries as a protocol adaptor and also to sign blocks of transactions. In a future release we plan to replace the block-signing with merge-mining, though the functionaries remain to communicate the transfer transactions to the main chain. The Signed Blocks feature serves to provide transaction processing functionality until merge-mining is implemented. Our intent is to later phase in the fully decentralised 2-way peg mechanism to replace the functionaries.