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 …
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12/ Take public-cryptography for example. One might cite it as an example of asymmetric attack/defense ratio.
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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*.
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14/ You can defeat the asymmetry by somehow forcefully switching the roles: become the owner yourself.
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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.
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16/ So anything that has asymmetric attack/defense ratio has to be relative. There’s always a way to go around the asymmetry.
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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.
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18/ Ledger immutability that relies on relative security will always be weaker than one that relies on absolute security.
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19/ EDIT (13): it is only *secure* from the point of view of the owner of the private key
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End of conversation
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