So forgive me if this is a noob type thing to say, but is downloading the whole blockchain of 1Gb really required for someone to get started with Reddcoin (or any other crypto-currency)? Or are there better options?
I mean I think I understand the principal of blockchain based digital currencies well enough - i.e. multiple wallets verifying transactions etc in order to guarantee integrity of the currency, avoid double-spends etc. But seriously, having to download the whole blockchain of the last three years sucks.
It would seem like a better strategy to me, to continue with the individual wallet idea, but store the individual copy of the blockchain associated with a user’s wallet in the cloud somewhere and just reference it using smaller calls from the end user’s device back to the cloud, then out to the wider ecosystem to avoid the download and storage hit, and initial setup delay.
This would make a crypto currency like Reddcoin much more accessible to the average internet-enabled tween or social bunny wouldn’t it? I mean, they’re not going to wait around for an hour to get setup like us geeks might… or have I totally missed the bus and there are already good answers to this or future strategies I’m just not enlightened on yet?
Thanks in advance.