Assumptions:
With the shares system we have an easy way to vote on anything.
With the TaPOS system the transaction ledger becomes immutable automatically over time as the ledger is confirmed by everyone on the network.
Generating the next block should be as efficient as possible to maximize dividends.
Transaction validation should be as quick as possible.
Solution:
Shareholders vote (off chain) on a trustee.
Trustee generates blocks every 30 seconds (or at will..... no need to require any particular rate)
If trustee is compromised or shutdown, shareholders can elect a new trustee by broadcasting their vote.
Once a new trustee has 51% of the shareholders support the network continues.
As a trustee you cannot double spend (you will be caught and fired).
As a trustee you cannot perform Denial of Service without being caught and fired.
As a trustee you cannot be coerced without being let go.
As a shareholder this maximizes your value (dividends, transaction speed, no potential of forks).
A trustee is not a paid position and requires almost no resources to run. A trustee could even operate behind a tor node.
The result is like a 'constitutional company' where the laws are entirely defined in the constitution and the 'president' can be recalled at any time and has almost no power even when in office.
This same process can be used to resolve when a hard fork goes into effect.
Thoughts?
The trustee seems to be a single point of failure. Why do we want that?
Speed isn't everything and even if you want speed, you can always optimize for speed later.
Trust? I thought the whole point is not to have to trust. If we have to trust it's starting to look a lot like Ripple.
The one way I would support this idea of having a trustee is to make it a conglomerate of trustees. These trustees would have to be anonymous, numbering in the hundreds rather than just 1, and they'd have to be selected completely at random from a pool rather than voted on.
Random select 100 or so from a pool to be the trustee conglomerate. Then randomly choose a trustee for different transactions. We should want as many trustees as possible, spread out around the globe. So perhaps a cellphone app?
The problem is if you don't pay someone something then why would they take the risk?
It reminds me of Tor nodes, it could work if there are enough of them I suppose but it's not decentralized enough if there aren't plenty of nodes.