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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 28

      Hugo Nguyen Retweeted zooko

      1/ “Weak subjectivity" strikes again. One thing Vitalik is good at is creating amazingly bad terminology. Some examples besides "weak subjectivity": "Bitcoin maximalism", "inactivity leaks” (which he erroneously likens to depreciation).https://twitter.com/zooko/status/1045808363974488064 …

      Hugo Nguyen added,

      zooko @zooko
      … What is weak subjectivity, you ask? Well, you could read the Ethereum PoS FAQ description of it (https://github.com/ethereum/wiki/wiki/Proof-of-Stake-FAQs#what-is-weak-subjectivity …), which I agree is technically correct, but let me try to explain it more succinctly, in my terms: …
      Show this thread
      3 replies 4 retweets 17 likes
      Show this thread
    2. Hugo Nguyen‏ @hugohanoi Sep 28

      2/ If @zooko wishes to find substantive and avoid so-called “philosophical” arguments, the last thing he wants is to rehash bad terminology. 🙂

      1 reply 0 retweets 1 like
      Show this thread
    3. Hugo Nguyen‏ @hugohanoi Sep 28

      Hugo Nguyen Retweeted Hugo Nguyen

      3/ Weak subjectivity is poorly defined/understood, and not actually “weak” at all. As I've repeated many times, PoS subjectivity is much stronger than PoW in terms of both *magnitude & frequency*.https://twitter.com/hugohanoi/status/1029919205859020800 …

      Hugo Nguyen added,

      Hugo Nguyen @hugohanoi
      Stop reading right here lol. Wrong on so many levels. (i) level of trust in PoW vs PoS is nowhere the same in terms of both magnitude & frequency (ii) "small" is relative & can turn "big" quickly in worst-case scenarios. very dangerous thinking. I call it engineering-by-hope. 😛 https://twitter.com/VitalikButerin/status/1029901952346279936 …
      Show this thread
      1 reply 1 retweet 2 likes
      Show this thread
      Hugo Nguyen‏ @hugohanoi Sep 28

      Hugo Nguyen Retweeted Hugo Nguyen

      4/ Subjectivity in PoW can also be reduced significantly when the protocol ossifies. PoS does *not* have this luxury, even with protocol ossification.https://twitter.com/hugohanoi/status/1044076369234128896 …

      Hugo Nguyen added,

      Hugo Nguyen @hugohanoi
      9/ CVE-2018-17144 also reaffirms my belief that the Bitcoin protocol should ossify quickly. We *might* not even get to integrate Privacy, but that’s the price we have to pay if we want to not jeopardize this soon-to-be trillion-dollar foundation. The stake is already too high.
      Show this thread
      5:56 PM - 28 Sep 2018
      • 1 Like
      • Jason Jawn
      1 reply 0 retweets 1 like
        1. New conversation
        2. Hugo Nguyen‏ @hugohanoi Sep 28

          Hugo Nguyen Retweeted Hugo Nguyen

          5/ From the distributed network perspective, PoS proponents also love to gloss over the nuances between different synchrony models. The network argument usually goes “but PoW also doesn’t work in a FULLY async environment!” Details mater.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 1 like
          Show this thread
        3. Hugo Nguyen‏ @hugohanoi Sep 28

          Hugo Nguyen Retweeted Hugo Nguyen

          6/ One can also look at the weaknesses of PoS from the randomness perspective. Narayanan’s recent paper should come as no surprise to those who truly understand PoW: good randomness is incredibly hard to come by in a distributed & adversarial setting.https://twitter.com/hugohanoi/status/1045784962484527104 …

          Hugo Nguyen added,

          Hugo Nguyen @hugohanoi
          Hypothesis: external source of randomness via Proof-of-Work is probably the only way to securely inject randomness into a public & distributed blockchain. https://medium.com/@hugonguyen/bitcoin-chance-and-randomness-ba49a6edf933 …
          1 reply 0 retweets 5 likes
          Show this thread
        4. Hugo Nguyen‏ @hugohanoi Sep 28

          Hugo Nguyen Retweeted Hugo Nguyen

          7/ Moving the problem of distributed consensus from finding blocks to “what is the source of randomness?” in PoS can lead to either (a) circular reasoning or (b) poor randomness.https://twitter.com/hugohanoi/status/1045759950184534016 …

          Hugo Nguyen added,

          Hugo Nguyen @hugohanoi
          I just published “Feedback Loop vs. Circular Reasoning” https://medium.com/@hugonguyen/feedback-loop-vs-circular-reasoning-1544ae7fd457 …
          1 reply 0 retweets 3 likes
          Show this thread
        5. Hugo Nguyen‏ @hugohanoi Sep 28

          Hugo Nguyen Retweeted nic carter

          8/ Last but not least, the points above dissect PoS from the technical angle. But PoS is also a big no-no from the economic perspective: the reward distribution is inherently unfair & inevitably produces a plutocracy, as @nic__carter aptly pointed out.https://twitter.com/nic__carter/status/1045804073256177664 …

          Hugo Nguyen added,

          nic carter @nic__carter
          Replying to @nic__carter @zooko and 2 others
          The problem that no PoS proponent has ever convincingly answered is as follows: why should a costless-to-exercise perpetual anti-dilution right be granted to the originators of an economic system?
          0 replies 1 retweet 3 likes
          Show this thread
        6. End of conversation

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