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hugohanoi's profile
Hugo Nguyen
Hugo Nguyen
Hugo Nguyen
@hugohanoi

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Hugo Nguyen

@hugohanoi

I chain, therefore I am ⛓️

Joined April 2012

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    1. Hugo Nguyen‏ @hugohanoi Sep 25

      Hugo Nguyen Retweeted Alex Mizrahi

      1/ What is handwaving & sloppy thinking is ignoring subtle but important differences between PoW & PoS. Such as the *degree of social consensus required* - in terms of both magnitude & frequency.https://twitter.com/killerstorm/status/1044522585663447040 …

      Hugo Nguyen added,

      Alex Mizrahi @killerstorm
      Replying to @killerstorm @hugohanoi
      analyze the core protocol and improve it. But instead people prefer to handwave something about "decentralization" and "trustlessness" without ever considering the ACTUAL threat model. Did you ever consider what are you going to do in the scenario of a 51% attack? Suppose the
      3 replies 3 retweets 8 likes
      Show this thread
    2. Alex Mizrahi‏ @killerstorm Sep 26
      Replying to @hugohanoi

      My whole point is that difference between PoW and PoS is indeed subtle and matter of degrees. While most PoW proponents are like "PoS is obviously broken, PoW is the only way". If we can get to the point where we can talk about trade-offs, I'll be happy with it.

      1 reply 0 retweets 2 likes
      Hugo Nguyen‏ @hugohanoi Sep 26
      Replying to @killerstorm

      I agree with the 1st part, disagree with the 2nd part :-) To me & to many, PoS is indeed obviously broken. It's reinventing a decades-old wheel & a dead end. If PoS were truly viable, we shouldn't have to wait until today to have uncensorable money.

      3:16 PM - 26 Sep 2018
      • 1 Like
      • Distributed Bit 🛰️📡⛓️
      1 reply 0 retweets 1 like
        1. New conversation
        2. Alex Mizrahi‏ @killerstorm Sep 26
          Replying to @hugohanoi

          I'm not sure how much you know about PoS. There are many different approaches, some quite intricate and subtle, and typically it requires separate issuance phase, which can be done using PoW.

          1 reply 0 retweets 1 like
        3. Hugo Nguyen‏ @hugohanoi Sep 26
          Replying to @killerstorm

          Hugo Nguyen Retweeted Hugo Nguyen

          PoS protocols all share the same fundamental flaws although the way they choose to obfuscate the problems vary. It boils down to 2 main variants: either checkpointing or outright reliance on chain freeze/social consensus. See my linked tweets.https://twitter.com/hugohanoi/status/1021832568314843136?s=21 …

          Hugo Nguyen added,

          Hugo Nguyen @hugohanoi
          For those who are interested, my prior articles on this: 1/ https://medium.com/@hugonguyen/proof-of-stake-the-wrong-engineering-mindset-15e641ab65a2 … 2/ https://medium.com/@hugonguyen/proof-of-stake-private-keys-attacks-and-unforgeable-costliness-the-unsung-hero-5caca70b01cb …
          Show this thread
          0 replies 0 retweets 1 like
        4. End of conversation

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