Why do proof of work systems ramp up the difficulty of hash solving while keeping latency constant, instead of keeping difficulty constant while nodes compete to reduce latency? The later seems more useful, and not inflationary.
-
-
Replying to @TimSweeneyEpic
The reason is because the only point of proof of work _is_ to keep latency high. You don't actually need it for anything else. The entire point of PoW is just to have there be a single value you can check before validating a transaction block. It's DDoS protection.
7 replies 2 retweets 48 likes -
Replying to @cmuratori @TimSweeneyEpic
as far as I know PoW is a consensus algorithm... if you refer DDoS by flooding the network with silly transactions, that I think is mainly achieved by the transaction fees...
1 reply 0 retweets 1 like -
Replying to @chapolin__br @TimSweeneyEpic
PoW isn't actually a consensus algorithm. It already doesn't ensure that for BitCoin, which can fork if two miners come up with a new (valid) block close to the same time, which does happen.
2 replies 0 retweets 1 like -
Replying to @cmuratori @TimSweeneyEpic
I think you are referring to the orphans blocks... this is something that happens by design, and the longer chain will be the valid one...
1 reply 0 retweets 0 likes -
Replying to @chapolin__br @TimSweeneyEpic
Correct. That is the consensus algorithm of BitCoin, not PoW. PoW does not produce a consensus (obviously, since it requires the longest-chain rule).
1 reply 0 retweets 0 likes -
Replying to @cmuratori @TimSweeneyEpic
you can only add new valid blocks if you solve a problem (that's is mining)... and for that some work has to be done, it could be anything as long participants agree to that work, that seems like consensus to me...
1 reply 0 retweets 0 likes -
Replying to @chapolin__br @TimSweeneyEpic
BUT IT'S NOT CONSENSUS. It does not produce any agreement. It is just a delay factor. The consensus is block validation plus longest-chain-wins. PoW does not have any validation criteria at all!!
2 replies 0 retweets 2 likes
I mean, this is obviously true? PoW is literally just an enforced random wait time. That's all it is. It doesn't do anything for consensus whatsoever.
-
-
Replying to @cmuratori @TimSweeneyEpic
it does, participants agree with each other that more work has been done to a specific chain. You could achieve the same result with other algorithms rather than PoW...
0 replies 0 retweets 0 likesThanks. Twitter will use this to make your timeline better. UndoUndo
-
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.