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A Guide to 99% Fault Tolerant Consensus

Special thanks to Emin Gun Sirer for review We’ve heard for a long time that it’s possible to achieve consensus with 50% fault tolerance in a synchronous network where messages broadcasted by any honest node are guaranteed to be received by all other honest nodes within some known time period (if an attacker has more than 50%, they can perform a “51% attack”, and there’s an analogue of this for any algorithm of this type). дальше »

2018-8-9 04:03


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Governance, Part 2: Plutocracy Is Still Bad

Coin holder voting, both for governance of technical features, and for more extensive use cases like deciding who runs validator nodes and who receives money from development bounty funds, is unfortunately continuing to be popular, and so it seems worthwhile for me to write another post explaining why I (and Vlad Zamfir and others) do not consider it wise for Ethereum (or really, any base-layer blockchain) to start adopting these kinds of mechanisms in a tightly coupled form in any significant way. дальше »

2018-7-21 23:03


STARKs, Part I: Proofs with Polynomials

Special thanks to Eli Ben-Sasson for ongoing help, explanations and review, coming up with some of the examples used in this post, and most crucially of all inventing a lot of this stuff; thanks to Hsiao-wei Wang for reviewing Hopefully many people by now have heard of ZK-SNARKs, the general-purpose succinct zero knowledge proof technology that can be used for all sorts of usecases ranging from verifiable computation to privacy-preserving cryptocurrency. дальше »

2018-7-21 23:03


Notes on Blockchain Governance

In which I argue that “tightly coupled” on-chain voting is overrated, the status quo of “informal governance” as practiced by Bitcoin, Bitcoin Cash, Ethereum, Zcash and similar systems is much less bad than commonly thought, that people who think that the purpose of blockchains is to completely expunge soft mushy human intuitions and feelings in favor of completely algorithmic governance (emphasis on “completely”) are absolutely crazy, and loosely coupled voting as done by Carbonvotes and similar systems is underrated, as well as describe what framework should be used when thinking about blockchain governance in the first place. дальше »

2018-7-21 23:03


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Fiat Currencies Will Become Essential to Public Blockchains

In an imagined future world of cryptocurrencies, fallible and politically influenced central bankers are replaced with algorithms and currencies get more valuable over time, not less so. Even if cryptocurrencies continue to grow (and they most likely will), if we want blockchains to deliver upon their promise, we must be able to transact using traditional дальше »

2018-7-18 15:43


Google, Samsung And Siemens Show Interest In Crypto Hardware Wallet

Hardware wallets are becoming the safest way to preserve cryptocurrency, rather than storing it through an online wallet that is at risk for hacking. To help appeal to an even larger market, major companies including Siemens, Samsung, and Google have expressed their desire to work with Ledger, which manufactures hardware wallets. They aim to get […] дальше »

2018-7-11 09:00


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Ignorance is Bliss! Reactionary Economists Keep Yelling at Bitcoin

Joseph Stiglitz, Nouriel Roubini, and Kenneth Rogoff have once again come out of the woodwork to attack Bitcoin — though they might need to get their facts straight.   ‘No Government Can Allow That’ Joseph Stiglitz, a Nobel Prize-winning economist and professor at Columbia University, believes Bitcoin will be shut down by governments around the world — while illustrating a serious lack of knowledge on what Bitcoin even is. дальше »

2018-7-9 21:00


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Wealthman Ltd: European investors will now get even higher security

June 13, 2018. Wealthman Ltd., a leading technology company that builds decentralised wealth management protocols, today announced that its European users will now benefit from extreme privacy in working with the super safe and effective Wealthman protocol as a result of the upgrading of our privacy policy and organising procedures in line with the General […] The post Wealthman Ltd: European investors will now get even higher security appeared first on ZyCrypto. дальше »

2018-6-28 14:41


EOS Founder Wants to Scrap the Platform's Constitution, Start Anew

Daniel Larmier, the founder and technical architect of EOS, has confirmed that he wants to scrap the platform’s current constitution and build a new one. Speaking on the EOSIO Gov Telegram Channel, Larimer claimed he has doubts about the company’s current on-chain governance model and called the existing constitution “unwise. дальше »

2018-6-28 01:44