the K-Y Protocol envisages the introduction of RSBCs (Regulated and Sovereign Backed Cryptocurrencies). In this paper we discuss in detail the establishment of a Controlled Block Chain based on the K-Y Protocol. It is primarily accomplished using the NationCoin system. There are two aspects to the NationCoin system. The software and the hardware aspect. The software necessary to write and run the Block Chain on the hardware is envisaged. The hardware needed to run and sustain the blockchain is then deliberated. A host of institutions have also been envisioned to create, support and run the NationCoin system. The DAR will be the main institution responsible for creating the Controlled Block Chain architecture. The costing, timeline and the interplay of institutions are also outlined.
In this paper, a method to implement K-Y protocol using Distributed Consensus is discussed. Firstly, the various available methods are discussed. Then, Proof -Of -Sovereignty (PoSv) is proposed. Its mechanism is deliberated and its advantages are described vis-a-vis other methods of distributed consensus. Finally a summary of all the procedures involved in 'NationCoin Mining' is explained.
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