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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

      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
    2. 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
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    3. 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
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    4. 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
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    5. 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
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    6. 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
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    7. 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
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    8. 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
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    9. 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.

      19 replies 18 retweets 129 likes
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    10. Patrick Tousignant‏ @PatTousignan Jan 13
      Replying to @hugohanoi

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

      1 reply 0 retweets 0 likes
      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.

      10:32 AM - 13 Jan 2018
      • 2 Likes
      • Denis Arunovic Patrick Tousignant
      0 replies 0 retweets 2 likes

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