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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. Hugo Nguyen‏ @hugohanoi Sep 25

      Hugo Nguyen Retweeted Hugo Nguyen

      2/ …or relative security strength under sync & semi-sync settings.https://twitter.com/hugohanoi/status/1040663728042082304 …

      Hugo Nguyen added,

      Hugo Nguyen @hugohanoi
      Replying to @hugohanoi @aparnalocked
      Simply put, under semi-sync setting, PoW strongly satisfies liveness & consistency. Whereas PoS protocols do not & break down under a number of scenarios. See my 2 articles for a few examples of these scenarios & the addition by @Datavetaren https://twitter.com/hugohanoi/status/1021832568314843136 …
      1 reply 0 retweets 0 likes
      Show this thread
    3. Hugo Nguyen‏ @hugohanoi Sep 25

      3/ A lot of terminology in this space are unfortunately imprecise. When we talk of “immutability”, “decentralization”, “trustlessness”, we don’t really mean them in the binary yes/no sense, but it’s often over a spectrum. A better term than “trustless” is “trust-minimized”.

      1 reply 0 retweets 2 likes
      Show this thread
    4. Hugo Nguyen‏ @hugohanoi Sep 25

      4/ No one handwaves away the problem of trust & decentralization in PoW - that’s a baseless claim. I’ve found that Bitcoiners are often the most paranoid when it comes to the threat of centralization, mining centralization in particular.

      2 replies 0 retweets 1 like
      Show this thread
    5. Alex Mizrahi‏ @killerstorm Sep 26
      Replying to @hugohanoi

      Alex Mizrahi Retweeted Pieter Wuille

      Well what would you say about this: https://twitter.com/lopp/status/1028092364559208448 … and this: https://twitter.com/pwuille/status/1028109412584452096 … PoW proponents gave up on quantifying decentralization & security metric, it now essentially boils down to an argument "It have not failed yet, thus it cannot fail".

      Alex Mizrahi added,

      Pieter Wuille @pwuille
      Replying to @lopp
      Furthermore, formalizing a metric for decentralization and then optimizing that metric will almost certainly select for the wrong thing. E.g., more listening nodes is better, because it's a proxy for independent users. But incentivizing more nodes will just give you AWS hordes.
      1 reply 0 retweets 0 likes
      Hugo Nguyen‏ @hugohanoi Sep 26
      Replying to @killerstorm

      I don't see @lopp 's & @pwuille 's tweets as dismissing centralization issue. What they are cautioning against is chasing some vanity metrics that end up causing more harm than good. Concern over the wrong centralization metrics != no concern over centralization. Big difference.

      3:20 PM - 26 Sep 2018
      • 2 Likes
      • Giacomo Zucco Pieter Wuille
      1 reply 0 retweets 2 likes
        1. New conversation
        2. Alex Mizrahi‏ @killerstorm Sep 26
          Replying to @hugohanoi @lopp @pwuille

          Well, they are clearly against using **any** metrics. If it was the issue with wrong metrics, surely they would have suggested right metrics, or how to come up with such, or research papers they like. But I see nothing like that. They just dismissed ALL academic research,

          1 reply 0 retweets 0 likes
        3. Alex Mizrahi‏ @killerstorm Sep 26
          Replying to @killerstorm @hugohanoi and

          wholesale. Obviously, there's some bad research, but if you dismiss the whole academia that means that your position can't be defended using rigorous reasoning.

          1 reply 0 retweets 0 likes
        4. Hugo Nguyen‏ @hugohanoi Sep 26
          Replying to @killerstorm @lopp @pwuille

          What do you expect? They are engineers 🙂 No offense to academics, but from what I've seen, the engineers have a *much* better grasp on Bitcoin fundamentals than most academics (even CS researchers), and the engineers are rightfully conservative when it comes to make-up metrics.

          1 reply 0 retweets 0 likes
        5. Hugo Nguyen‏ @hugohanoi Sep 26
          Replying to @hugohanoi @killerstorm and

          If I have to choose whom to trust, I'd choose the engineers. Any day. Now that's not to say that's there's no quality research in crypto. I'm particularly a big fan of @random_walker . http://randomwalker.info/publications/mining_CCS.pdf …

          1 reply 0 retweets 0 likes
        6. Hugo Nguyen‏ @hugohanoi Sep 26
          Replying to @hugohanoi @killerstorm and

          Hugo Nguyen Retweeted Arvind Narayanan

          Speaking of @random_walker, his most recent paper formalizes the problems with PoS, from the aspect of pseudorandomness. Doesn’t surprise me one bit. Although he seems to still give PoS some benefit of the doubt 🙂https://twitter.com/random_walker/status/1043552710086340609 …

          Hugo Nguyen added,

          Key intuition
          Arvind NarayananVerified account @random_walker
          New draft paper: Formal Barriers to Longest-Chain Proof-of-Stake Protocols https://arxiv.org/pdf/1809.06528.pdf … Main result: in a game-theoretic model where all players are strategic, any PoS protocol allows one of two types of beneficial deviation Talk: https://www.youtube.com/watch?v=PGrWGMRbdvw … Key intuition: pic.twitter.com/jJ7UXOVtB5
          0 replies 0 retweets 0 likes
        7. End of conversation

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