Computing proof-of-work consumes valuable resources. Auditors will only participate if paid.
Using proof-of-work to throttle the flow of timestamps between auditors means that some changes are in order.
The key to avoiding persistent chain splits is to keep auditor communication channels clear. This post explains how.
Auditors need to reconcile differences in perceived timestamp order. They do so by following two simple rules.
Transaction ordering conflicts can be detected with a modified ledger, but this doesn't solve the problem of reconciliation.
Adding one or more auditors reduces the risk of systemic failure, but synchronization is harder than it sounds.
Bitcoin Core may be the reference implementation, but it can also be a quirky teacher and reluctant team player. Here's an alternative.
Double spending can be eliminated by making all transactions visible through a centralized service. But this is only a partial solution.
The Bitcoin network, despite its complexity, was created to solve just one problem. This is it.
Just like physical coins, the value of electronic coins can be combined and split. Electronic cash accomplishes this with inputs and outputs.