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Just for an other-side perspective, people that enjoy this might enjoy my technical deep dive into PoSv3: http://earlz.net/view/2017/07/27/1904/the-missing-expl

by earlz 9y ago

Just for an other-side perspective, people that enjoy this might enjoy my technical deep dive into PoSv3: http://earlz.net/view/2017/07/27/1904/the-missing-explanation-of-proof-of-stake-version http://earlz.net/view/2017/07/27/1904/the-missing-explanatio... It is a much older implementation that works on Bitcoin's UTXO model (rather than the account model in Ethereum) and without smart contracts. It doesn't have a solution to the nothing at stake long-term attack, but it thwarts all known short-term attacks. Personally, CASPER's solution to the nothing at stake problem is concerning. In an ideal world, it is ideal, but in a more practical world, I can definitely foresee someone doing something wrong or making a mistake (either developer bugs, or consumer running two wallets, etc), unintentionally making a block on another chain, and losing their $1M worth of ETH as a result. It only takes that happening once, maybe twice, to get people to think twice about staking, and when less people are staking with less coins, the network is much easier to attack (disclaimer: I work on a blockchain project that is somewhat a competitor to Ethereum)

apo 9y ago
Does your project use PoS? Aside from the linked article, what PoS proposal has the best chance of solving the practical problems you mention? Edit: It looks like your post was edited to answer the second question. I'll check it out.
narush 9y ago
In every interaction with a blockchain, users have the chance to lose all of their funds. User error in with regular transactions is a far more likely issue than anything else (though there is no denying the importance of the validator code being written). Also, running two wallets would not cause one to lose money. Running two instances of the validator code might - but why anyone would do that is unclear.

by earlz 9y ago

apo 9y ago

Does your project use PoS? Aside from the linked article, what PoS proposal has the best chance of solving the practical problems you mention? Edit: It looks like your post was edited to answer the second question. I'll check it out.

narush 9y ago

In every interaction with a blockchain, users have the chance to lose all of their funds. User error in with regular transactions is a far more likely issue than anything else (though there is no denying the importance of the validator code being written). Also, running two wallets would not cause one to lose money. Running two instances of the validator code might - but why anyone would do that is unclear.