Oh really? And these are secure exactly how?

Or does this first party with enough motivation to build a custom ASIC (or hell, right some custom GPGPU code) ownzerz the network?

> Engineers have built new methods to secure blockchains that don't require mining.

Whitepaper or it didn't happen. Unless you are not talking about blockchain but about distributed database under some form of central control.

Something a lot of bitcoiners don't seem to realize: the security of a blockchain is entirely due to the fact that it is too expensive to attack it. If your blockchain is "secured" by a motley bunch of ragtag microcontrollers, the first guy to point an ASIC at this chain can 51% attack it willy-nilly and render the blockchain useless.

PS. This is not a theoretical statement. It has happened to numerous altcoins.

PPS. In case it needs spelling out, the fact that its too expensive to attack the blockchain means that it is even more expensive to secure it (because miners need to make a profit).

So in other words "wave hands dismissively"?