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>"The possibility that a Libra node run by Mastercard or Andressen Horrowitz would suddenly start running malicious code is such a bizarre scenario to plan for
by nokcha 7y ago
>"The possibility that a Libra node run by Mastercard or Andressen Horrowitz would suddenly start running malicious code is such a bizarre scenario to plan for and is better solved by simply enforcing protocol integrity and through non-technical (i.e. legal) means."
In regards to that, I don't think it's any more bizarre than a SCADA system in an Iranian nuclear enrichment plant suddenly running malicious code. Cyberattacks against financial systems are a very real worry.
In the history of computing, there have been countless times when people casually dismissed a security concern only for it to bite them years later. And oftentimes, trying to add security after the fact is much less successful that designing it to be secure from the get-go. I'm not a fan of Facebook Libra, but I do think that it's misguided to criticize it for having a robust security model with properties that can be reasoned about mathematically.
- matthewdgreen 7y agoTo the best of my knowledge, no deployed banking system relies on immutable ledgers. They all rely on detection and revision of ledgers. Libra has chosen to do something fundamentally different, and the author is asking why.
- marcosdumay 7y agoThe ledgers are officially immutable. Revisions are done as separate entries from the errors and both are expected to stay registered there.
- venantius 7y agoWe do: https://blog.griffin.sh/2019/10/23/the-immutable-bank/ https://blog.griffin.sh/2019/10/23/the-immutable-bank/
- YawningAngel 7y agoAdding to the other posters, Monzo's ledger is immutable (this is in fact a design requirement, since Monzo's Cassandra environment makes it impossible to update rows atomically).