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cmuratori's profile
Casey Muratori
Casey Muratori
Casey Muratori
@cmuratori

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Casey Muratori

@cmuratori

I'm worried that the baby thinks people can't change.

Seattle
caseymuratori.com
Joined March 2009

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    1. Tim Sweeney‏ @TimSweeneyEpic Oct 10

      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.

      86 replies 32 retweets 598 likes
    2. Casey Muratori‏ @cmuratori Oct 10
      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
    3. Tim Sweeney‏ @TimSweeneyEpic Oct 10
      Replying to @cmuratori

      Latency should factor out of the equation, right? I see that Proof of Work makes certain kinds of Denial of Service attacks expensive. But is the dimensionless constant 10 minutes (BTC update rate) divided by 0.3s (global worst case ping time) = 6000 significant?

      3 replies 0 retweets 19 likes
    4. Tim Sweeney‏ @TimSweeneyEpic Oct 10
      Replying to @TimSweeneyEpic @cmuratori

      Clearly as that number approaches 1, the region of the world that produces the most transactions gains an advantage in building the longest chain soonest.

      4 replies 0 retweets 8 likes
    5. Casey Muratori‏ @cmuratori Oct 10
      Replying to @TimSweeneyEpic

      I'm not sure I understand the question, but, the idea was that anybody could run a bitcoin node. In order to run the node, they need enough computing resources to validate all block candidates being broadcast. Validating a block is potentially very expensive...

      2 replies 0 retweets 3 likes
    6. Casey Muratori‏ @cmuratori Oct 10
      Replying to @cmuratori @TimSweeneyEpic

      So what PoW does is that it means that blocks cannot be spammed very quickly, because rather than validating blocks, nodes just look at the ~80-byte header and see if the PoW hash checks out. If it doesn't, they discard the block.

      1 reply 0 retweets 4 likes
    7. Casey Muratori‏ @cmuratori Oct 10
      Replying to @cmuratori @TimSweeneyEpic

      AFAICT - and I may be missing something - it really doesn't do anything else. That's the entirety of what the PoW part does (I mean, with respect to transactions - there's the minting money part, which is separate).

      1 reply 0 retweets 4 likes
    8. Casey Muratori‏ @cmuratori Oct 10
      Replying to @cmuratori @TimSweeneyEpic

      So PoW is just a rate limiter. It caps BitCoin at, you know, 7 transactions a second or whatever. And that's on purpose, to prevent both DDoS, and to prevent the storage from overwhelming the non-industrial nodes on the network. For example:pic.twitter.com/CsHKV2r0ZP

      1 reply 0 retweets 5 likes
    9. James Darpinian‏ @modeless Oct 10
      Replying to @cmuratori @TimSweeneyEpic

      PoW is not the transaction rate limiter. The transaction rate limiter is the block size cap. It's not to prevent DoS either. The important function of PoW is establishing a canonical ordering of transactions in a way that everyone can agree on, without requiring trust.

      1 reply 0 retweets 4 likes
    10. Casey Muratori‏ @cmuratori Oct 10
      Replying to @modeless @TimSweeneyEpic

      No, it does not. Longest-chain-wins is the thing that establishes the block order. PoW doesn't, and in fact, in practice already does not - the BitCoin chain already does occasionally get forks of this nature.

      3 replies 0 retweets 4 likes
      Casey Muratori‏ @cmuratori Oct 10
      Replying to @cmuratori @modeless @TimSweeneyEpic

      The size of the block does not limit transaction rate. That's like saying the size of UDP packets limits your bandwidth. The chunk size would not matter if you didn't have PoW, you'd just send as many blocks as you want, as fast as you wanted. PoW is the rate limiter, period.

      7:02 PM - 10 Oct 2021
      • 2 Likes
      • Radoslaw Jurga David Deutsch
      1 reply 0 retweets 2 likes
        1. Casey Muratori‏ @cmuratori Oct 10
          Replying to @cmuratori @modeless @TimSweeneyEpic

          (and more precisely, "the block order" is the wrong phrase to use. Block order is always rigorous because the previous block hash is always included in the next block. It's block _primacy_ that is arbitrated by longest-chain-wins.)

          0 replies 0 retweets 3 likes
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