Trying to understand the modifed DBC that Autonomi will use

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Trying to understand the modified DBC the Autonomi network will use, so asked chatgpt, is this a good and correct answer? I want to use the answer to explain Autonomi DBC on a forum. How DBC (Digital Bearer Certificate) Works:

Digital Bearer Certificate (DBC) is a digital instrument that acts as a “bearer” of value, similar to a physical banknote. Whoever holds the DBC controls the value or assets that the DBC represents.

The DBC system operates by creating unique digital tokens that can be transferred directly between users without the need for a central authority. Each DBC is unique and carries information about its value and ownership, making it verifiable and acceptable as payment.

Suitability in Decentralized Networks:

No Central Mint: In the Autonomi network, DBCs are created and validated without a central minting authority. This makes the system more resilient against centralized attacks and corruption.
Security and Integrity: Each transaction involving a DBC must have a verifiable history, preventing double-spending. This creates a trustworthy system for transferring value.
Resilience: Since each client has its own ledger and can track and verify its own DBCs, the network becomes more resilient. If part of the network goes down, individual users’ ability to control or use their assets is not compromised. This is crucial in a decentralized system where full security and autonomy are priorities.

Summary:

The DBC system is well-suited for decentralized networks like Autonomi because it enables secure and independent management of value without relying on a central authority. By allowing each client to manage its own ledger, the system enhances security and stability, even if parts of the network become unavailable

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Just a quick fun fact, Stellar solves this for XLM with a “Transaction Sequence Number”. So before you can send a transaction you must to fetch the next sequence number.

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@JimCollinson said this on the Discord earlier today:

We aren’t actually using DBCs any longer. Although it was a very cool concept, and great tech, it wasn’t up the to job of what we needed. This is the most up-to-date info on our payments at the mo: Payments, and Transactions | Learn

I’m not following things since a while, but perhaps you should go have a read of that link. As to the accuracy of ChatGPT’s answer after that, I couldn’t say. Whether you’ve engaged in useful, intelligent or necessary use of ChatGPT in the first place, I’ll leave to others to speculate upon. Anyone curious will no doubt be able to ask ChatGPT what it thinks and get a definitive answer to the question :innocent:

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Well I gave chatgpt text from what seems to be the most up to date whitepaper.

“For its payment and economic system, rather than a blockchain, Autonomi leverages something similar to Digital Bearer Certificates, but without any central mint. Instead there is one genesis transaction and it is required that any transactions stored on the network have a valid and auditable lineage, back to that genesis. Double spends are avoided, as any attempt to do so invalidates the tokens at that address. Auditing can be performed by anyone as the ‘Spend’ graph is public, while being significantly privacy enhanced.”