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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 16

      1/ Proof-of-stake cryptocurrencies cannot be trustless.

      2 replies 22 retweets 56 likes
      Show this thread
    2. Hugo Nguyen‏ @hugohanoi Jan 16

      Hugo Nguyen Retweeted Hugo Nguyen

      2/ PoS: subjective interpretation of immutability. The source of truth is someone saying this ledger is real & final. All things that require subjectivity can potentially be subverted.https://twitter.com/hugohanoi/status/952714149582159873 …

      Hugo Nguyen added,

      Hugo Nguyen @hugohanoi
      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.
      Show this thread
      1 reply 5 retweets 10 likes
      Show this thread
    3. Hugo Nguyen‏ @hugohanoi Jan 16

      3/ Subjectivity implies there’s a high degree of trust in the protocol. Blockchains are about the removal of trust.

      1 reply 2 retweets 14 likes
      Show this thread
      Hugo Nguyen‏ @hugohanoi Jan 16

      Hugo Nguyen Retweeted Hugo Nguyen

      4/ PoW: objective immutability. The source of truth is based on some representation of energy expensed. There’s no object to attack except the energy itself.https://twitter.com/hugohanoi/status/952714380751224832 …

      Hugo Nguyen added,

      Hugo Nguyen @hugohanoi
      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.
      Show this thread
      11:21 AM - 16 Jan 2018
      • 4 Retweets
      • 14 Likes
      • Edward Percival Hackworth 🧐 Mansa Musa Shane Sirbu Jon Mahler Pontus Lindblom Hipstercryptster leo perez Patrick M.
      2 replies 4 retweets 14 likes
        1. Timos Moraitis‏ @timos_m Jan 16
          Replying to @hugohanoi

          Timos Moraitis Retweeted Timos Moraitis

          Indeedhttps://twitter.com/timos_m/status/952960156853264384 …

          Timos Moraitis added,

          Timos Moraitis @timos_m
          Replying to @VitalikButerin @hugohanoi
          51% Work costs the same energy to both attackers and defenders. 51% Stake costs the same ether to both attackers and defenders. Difference: energy is valuable to both sides, ether is only valuable to defenders.
          0 replies 0 retweets 1 like
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        1. New conversation
        2. Saeed Rasooli‏ @saeedgnu Jan 27
          Replying to @hugohanoi

          I agree that PoW is more secure. But without some level of trust, there is no economy, and there is no society. Even with a good PoS currency, our bottleneck of trust will not be the currency. It will be the servers, websites that we purchase from, and people we pay them.

          1 reply 0 retweets 0 likes
        3. Saeed Rasooli‏ @saeedgnu Jan 27
          Replying to @saeedgnu @hugohanoi

          I like to see it as a pure mathematical / logical puzzle. But the fact is, there are too many uncertainties out there in the society. And even a super-secure currency (with the cost of so much energy) is probably not enough to make us safe and secure in our financial activities

          1 reply 0 retweets 0 likes
        4. Saeed Rasooli‏ @saeedgnu Jan 27
          Replying to @saeedgnu @hugohanoi

          What I'm trying to say is that PoW is not the only method to bring security. A good implementation of PoS with a good community and good governance, with reliable software and servers can also make a secure decentralized corrency. And it might be even more efficient overally

          0 replies 0 retweets 0 likes
        5. End of conversation

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