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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 14

      Hugo Nguyen Retweeted Vitalik Non-giver of Ether

      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 …

      Hugo Nguyen added,

      Vitalik Non-giver of EtherVerified account @VitalikButerin
      Replying to @haseebinc @hugohanoi @VladZamfir
      Can these people at least *try* to engage with the actual arguments and rebuttals to this stuff like https://medium.com/@VitalikButerin/a-proof-of-stake-design-philosophy-506585978d51 … and https://github.com/ethereum/wiki/wiki/Proof-of-Stake-FAQ … ?
      2 replies 13 retweets 69 likes
      Show this thread
    2. Hugo Nguyen‏ @hugohanoi Jan 14

      2/ To have long-dormant nodes or new nodes “ask their friends, block explorers or businesses” to find out which is the canonical chain in a *permission-less protocol* is unacceptable.

      2 replies 1 retweet 10 likes
      Show this thread
    3. Hugo Nguyen‏ @hugohanoi Jan 14

      3/ It assumes a) you have some trusted parties you can talk to and b) they are forever alive, available or not compromised.

      2 replies 0 retweets 10 likes
      Show this thread
    4. Hugo Nguyen‏ @hugohanoi Jan 14

      4/ To quote @NickSzabo4 : “Trusted third parties are security holes.”

      1 reply 1 retweet 24 likes
      Show this thread
      Hugo Nguyen‏ @hugohanoi Jan 14

      5/ To hand-wave this weakness away (or misleadingly used the term “weak”) is like saying a foundation of a house has a small crack, but it’s no big deal. When it fact it can grow into a huge liability over the long term.

      5:23 PM - 14 Jan 2018
      • 10 Likes
      • Nick Szabo⚡️ Patrick M. CryptOrbuld⚡️ Master Trader {LTC} Michael Culhane Willem Van den Bergh ฿itcoinMario Doctor ₿ Goss, MD
      1 reply 0 retweets 10 likes
        1. New conversation
        2. Hugo Nguyen‏ @hugohanoi Jan 14

          6/ I also addressed directly your argument that reliance on social consensus is fine, since PoW also needs it. Like I said, it’s not whether you need social consensus, it’s *how much*. The goal is to minimize it, not to rely on it as a protocol building block.

          1 reply 0 retweets 5 likes
          Show this thread
        3. Hugo Nguyen‏ @hugohanoi Jan 14

          7/ @VitalikButerin claimed that in PoW “cost of attack and cost of defense are at a 1:1 ratio”, which I agree with. What I don’t agree with is the claim that PoS can do better.

          1 reply 1 retweet 6 likes
          Show this thread
        4. Hugo Nguyen‏ @hugohanoi Jan 14

          8/ PoS security "comes from putting up economic value-at-loss”. And since you arbitrarily decide on the stake/penalty value, you claim this is asymmetric.

          1 reply 0 retweets 2 likes
          Show this thread
        5. Hugo Nguyen‏ @hugohanoi Jan 14

          9/ However, this “value-at-loss” is not truly at risk until a later point in time. It is *not 100% committed* unlike PoW. Your threat of punishment only works if and only if attackers remain on the same chain.

          1 reply 1 retweet 9 likes
          Show this thread
        6. Hugo Nguyen‏ @hugohanoi Jan 14

          10/ Sure, you could put an arbitrary value on the penalty and claim that’s it’s a huge wall of defense, but because of the “weak subjectivity” vulnerability, there’s a small backdoor to the side of the castle, making the hugeness of the wall irrelevant.

          1 reply 0 retweets 7 likes
          Show this thread
        7. Hugo Nguyen‏ @hugohanoi Jan 14

          11/ I want to take the opportunity to put away the misguided idea of achieving better cost of attack/cost of defense ratio than 1:1. @TuurDemeester also addressed this in his critique of PoShttps://medium.com/@tuurdemeester/critique-of-buterins-a-proof-of-stake-design-philosophy-49fc9ebb36c6 …

          1 reply 1 retweet 11 likes
          Show this thread
        8. Hugo Nguyen‏ @hugohanoi Jan 14

          12/ Take public-cryptography for example. One might cite it as an example of asymmetric attack/defense ratio.

          1 reply 0 retweets 2 likes
          Show this thread
        9. Hugo Nguyen‏ @hugohanoi Jan 14

          13/ However, it is only asymmetric from the point of view of the owner of the private key, and dependent on the fact that this key is forever kept secret. In other words, public-key cryptography security is *relative*.

          2 replies 0 retweets 1 like
          Show this thread
        10. Hugo Nguyen‏ @hugohanoi Jan 14

          14/ You can defeat the asymmetry by somehow forcefully switching the roles: become the owner yourself.

          1 reply 0 retweets 1 like
          Show this thread
        11. Hugo Nguyen‏ @hugohanoi Jan 14

          15/ The true cost analysis of attacking public-key cryptography must include social engineering attacks: kidnapping, extortion, torture. You can make attacking cost much lower than the cost of brute-forcing the key.

          2 replies 2 retweets 19 likes
          Show this thread
        12. Hugo Nguyen‏ @hugohanoi Jan 14

          16/ So anything that has asymmetric attack/defense ratio has to be relative. There’s always a way to go around the asymmetry.

          1 reply 1 retweet 6 likes
          Show this thread
        13. Hugo Nguyen‏ @hugohanoi Jan 14

          17/ PoW security, otoh, is *absolute*. It doesn't matter which frame of reference you come from, the cost of attack is the same. PoW ledger immutability is objective, it doesn’t care who you are.

          4 replies 3 retweets 27 likes
          Show this thread
        14. Hugo Nguyen‏ @hugohanoi Jan 14

          18/ Ledger immutability that relies on relative security will always be weaker than one that relies on absolute security.

          1 reply 0 retweets 15 likes
          Show this thread
        15. Hugo Nguyen‏ @hugohanoi Jan 14

          19/ EDIT (13): it is only *secure* from the point of view of the owner of the private key

          0 replies 0 retweets 5 likes
          Show this thread
        16. End of conversation

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