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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 Jan 12

      30/ PoS might be mildly interesting without being as secure as PoW. But I don’t really see the point. If you compromise on ledger security, you compromise on what makes blockchains special in the first place.

      3 replies 13 retweets 133 likes
      Show this thread
    2. Hugo Nguyen‏ @hugohanoi Jan 12

      31/ PoS weaker security is also evidenced by its need to require a lot more “social consensus” (which is just a fancy word for manual human intervention) than PoW.

      5 replies 13 retweets 125 likes
      Show this thread
    3. Hugo Nguyen‏ @hugohanoi Jan 12

      32/PoS plans to rely on “making it the user's responsibility to authenticate the latest state out of band. They can do this by asking their friends, block explorers, businesses that they interact with, etc. for a recent block hash in the chain that they see as the canonical one.”

      1 reply 4 retweets 43 likes
      Show this thread
    4. Hugo Nguyen‏ @hugohanoi Jan 12

      33/ Vitalik’s beloved defense against this type of weakness is that PoW also require social consensus. Well, DUH. *All man-made systems require some degree of social consensus*, there is no exception.

      2 replies 5 retweets 57 likes
      Show this thread
    5. Hugo Nguyen‏ @hugohanoi Jan 12

      34/ The political system, the transportation system, the banking system, the dollar, Bitcoin, etc. All these systems require buy-in from humans collectively as a group, in order for them to work. Man-made systems would break down immediately without social consensus.

      2 replies 8 retweets 61 likes
      Show this thread
    6. Hugo Nguyen‏ @hugohanoi Jan 12

      35/ To argue that since PoW needs social consensus, it’s OK for PoS to need social consensus, is a downright stupid argument. What matters is not whether you need social consensus, but *how much*?

      1 reply 9 retweets 71 likes
      Show this thread
    7. Hugo Nguyen‏ @hugohanoi Jan 12

      36/ The less social consensus / human intervention a system needs, the stronger & more secure it is. The goal is to move as much as possible to *machine consensus*- to eliminate human biases & errors.

      3 replies 20 retweets 104 likes
      Show this thread
    8. Hugo Nguyen‏ @hugohanoi Jan 12

      37/ PoW makes machine-level consensus a trivial problem. When there is a fork, a machine just has to pick the one with the most accumulated PoW. Yes, Bitcoin still needs some social consensus to get the system up & running. But after that, it’s mostly on auto-pilot.

      1 reply 7 retweets 63 likes
      Show this thread
    9. Hugo Nguyen‏ @hugohanoi Jan 12

      38/ In contrast, in PoS you would continuously need social consensus in order to resolve forks. The reliance on social consensus is magnitudes bigger than PoW.

      3 replies 9 retweets 60 likes
      Show this thread
    10. Hugo Nguyen‏ @hugohanoi Jan 12

      39/ In conclusion, there is just no comparison between PoW & PoS. It’s like a NBA team vs a highschool team.

      6 replies 7 retweets 73 likes
      Show this thread
      Hugo Nguyen‏ @hugohanoi Jan 12

      40/ PoW is a system designed to withstand the worst, PoS involves obfuscated setups in order to hide its fatal weaknesses. One is a resilient platform for the future, the other is a toy.

      8:19 PM - 12 Jan 2018
      • 18 Retweets
      • 129 Likes
      • Steve Crozier ₿reezy Señor Fudd Tony Cecala nioctib 🚧 DEUS Cesar G. Zapiola Marty Bent
      19 replies 18 retweets 129 likes
        1. New conversation
        2. Hugo Nguyen‏ @hugohanoi Jan 13

          Hugo Nguyen Retweeted Hugo Nguyen

          41/https://twitter.com/hugohanoi/status/952254443365347328 …

          Hugo Nguyen added,

          Hugo Nguyen @hugohanoi
          Replying to @TuurDemeester
          Thanks Tuur. To add since so many people seem to be missing the point... “What about tech innovations? Cars vs horses? LED vs. lightbulb? Aren’t those examples of using less energy to achieve the same goal?” No because in those cases there are exploitable inefficiencies.
          17 replies 7 retweets 41 likes
          Show this thread
        3. Hugo Nguyen‏ @hugohanoi Jan 15

          Hugo Nguyen Retweeted Hugo Nguyen

          42/ Continued debate with Vitalikhttps://twitter.com/hugohanoi/status/952712190808608768 …

          Hugo Nguyen added,

          Hugo Nguyen @hugohanoi
          1/ Ehhh, I addressed directly Casper’s handwaving attitude regarding “weak subjectivity” or the reliance on social consensus in my thread. @VitalikButerin believes this kind of weakness is trivial. But it’s not. https://twitter.com/VitalikButerin/status/952548219988226049 …
          Show this thread
          1 reply 1 retweet 5 likes
          Show this thread
        4. Hugo Nguyen‏ @hugohanoi Jan 27

          Hugo Nguyen Retweeted Hugo Nguyen

          43/https://twitter.com/hugohanoi/status/953346191152033792 …

          Hugo Nguyen added,

          Hugo Nguyen @hugohanoi
          1/ Proof-of-stake cryptocurrencies cannot be trustless.
          Show this thread
          1 reply 0 retweets 1 like
          Show this thread
        5. Hugo Nguyen‏ @hugohanoi Jan 27

          Hugo Nguyen Retweeted Hugo Nguyen

          44/ A deep dive into PoW & extending the energy argumenthttps://twitter.com/hugohanoi/status/957091071745433601 …

          Hugo Nguyen added,

          Hugo Nguyen @hugohanoi
          1/ The anatomy of Proof-of-Work
          Show this thread
          0 replies 1 retweet 5 likes
          Show this thread
        6. End of conversation
        1. New conversation
        2. Patrick Tousignant‏ @PatTousignan Jan 13
          Replying to @hugohanoi

          Lightbulb vs LED = Same Lumens... Less power. (mike drop)

          1 reply 0 retweets 0 likes
        3. Hugo Nguyen‏ @hugohanoi Jan 13
          Replying to @PatTousignan

          That’s different because in Lightbulb vs. LED case there are exploitable inefficiencies, whereas every hash in PoW goes to secure the ledger. One hash mined == one hash harder to revert. One joule of energy != one joule of photons released.

          0 replies 0 retweets 2 likes
        4. End of conversation
        1. New conversation
        2. Qiao Wang‏ @QWQiao Jan 13
          Replying to @hugohanoi

          Insightful post. But your second point sort of disproves your first point - the massive social consensus IS the energy that is required to secure the network.

          1 reply 0 retweets 0 likes
        3.  🇺🇸  🇸  🇭  🇦  🇼  🇳‏ @lBeMeYouBeYou Jan 13
          Replying to @QWQiao @hugohanoi

          More social consensus = more vulnerability. That's kind of the point.

          0 replies 0 retweets 2 likes
        4. End of conversation
        1. Seanleon‏ @seanleon9 Jan 13
          Replying to @hugohanoi

          Wow thank you for this not too short but well written tweet! 🙌🏼

          0 replies 0 retweets 1 like
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        1. Trust ⚡️Your ⚡️Assets‏ @TrustYourAssets Jan 13
          Replying to @hugohanoi

          I'm not sure if you've ever seen PoS $NXT and now NXT 2.0 ARDOR $ARDR they've had PoS since 2013, used to be the #3 coin, first ICOs, they are a great example of PoS that does work, not ETH @Jelurida @ArdorPlatform

          0 replies 0 retweets 1 like
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        1. Federico Ulfo ⚡️‏ @feulf Jan 13
          Replying to @hugohanoi

          Nice thread. If you’re in NY you should come at CryptoNYC we’re having that discussion sometimes next week. /cc @lrettig

          0 replies 0 retweets 1 like
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        1. @iznogood‏ @trollIznogood Jan 13
          Replying to @hugohanoi

          Absolutely agree. I would also add that the game theory works for PoW but it doesn't for PoS.

          0 replies 0 retweets 1 like
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        1. New conversation
        2. Barbakadze‏ @jayarjo Jan 13
          Replying to @hugohanoi

          What about #hashgraph?

          2 replies 0 retweets 0 likes
        3. Daniel Grimes‏ @dandcg Jan 13
          Replying to @jayarjo @hugohanoi

          Absolutely great point of view.. But yes what about new tech like #hashgraph?

          0 replies 0 retweets 1 like
        4. End of conversation
        1. Thang Nguyen‏ @MR_ThangNguyen Mar 4
          Replying to @hugohanoi

          Dear sir, are you Vietnamese men? From Vietnam with love.

          0 replies 0 retweets 0 likes
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        1. New conversation
        2. Ole Andre Knutli‏ @4goals86 Jan 14
          Replying to @hugohanoi

          Thank you for sharing your knowledge. Well written and precise! 1000 bits @tipprbot

          1 reply 0 retweets 0 likes
        3. tippr‏ @tipprbot Jan 14
          Replying to @4goals86

          tippr Retweeted tippr

          I've transferred your tip of 0.001 BCH ($2.58243 USD) to hugohanoi!https://twitter.com/tipprbot/status/944091082480078848 …

          tippr added,

          tippr @tipprbot
          Received a tip? Want to tip? Usage instructions: https://reddit.com/r/tippr/wiki/index … I'm a #BitcoinCash tip bot for Reddit and Twitter, allowing you to send Bitcoin Cash to other users easily. I'm coded and maintained by @r0bbot at @RocketrNet
          0 replies 0 retweets 0 likes
        4. End of conversation
        1. ASX‏ @ASX34761860 Jan 13
          Replying to @hugohanoi

          Biased, uninformed, subjective, superficial, unnecessarily long, unnecessarily dumbed down, ineffective attempt at propaganda. Next time just fork the opinion of someone who actually has a point and call it litepoint.

          0 replies 0 retweets 0 likes
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        1. Andho 🎈‏ @andhos Jan 13
          Replying to @hugohanoi

          PoW can withstand the worst but can we withstand PoW? Also the human social machine is rather costly, though unpredictable.

          0 replies 0 retweets 0 likes
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        1. Big Jeans Fan Account‏ @Mykeymyke9 Jan 13
          Replying to @hugohanoi

          Can I ask for your thoughts on dBFT vs PoW and vs PoS?

          0 replies 0 retweets 0 likes
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