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Except a token is unnecessary unless it needs to be transferrable. Reddit is a centralized entity, so they can attest to you being the top poster (and even cryptographically sign that attestation) without the extra cost of posting it on a blockchain.



A token is hardly necessary then either.

1. Artist creates work, signs it with his good old fashioned PGP key, publishes it.

2. Patron pays to "sponsor" the work. Artist makes a bundle of the work and patron's public key, and signs it with his own. Publishes it.

3. Patron decides he has to "sell" his patronage. He takes the bundle from 2, adds the buyer's public key, and signs it. Optionally, the artist signs it too to indicate he's OK with the "transfer". They publish it.

Are there ways to cheat? Yeah, if you're confident no one has downloaded the signed document that you published, you can try double-selling. But that's risky: if you're wrong, someone can publish the signed document and prove that you are a fraud.

This illustrates that most of the utility of "distributed blockchains" come from simple digital signatures. If all parties are accountable, public identities, this simplified scheme is strictly superior.

And remember, we're talking about art and public patronage here, not trade of illegal goods. The whole point is that you want people to see it and associate it with a public, accountable identity.


Which is what StackExchange has been doing for years.




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