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Doesn't matter; there are no technical details for this, and so far nobody has a solution on how to do this. Yes, permissionless networks exist; but no network
by jeromebaek 7y ago
Doesn't matter; there are no technical details for this, and so far nobody has a solution on how to do this. Yes, permissionless networks exist; but no network has transitioned from a permissioned to a permissionless network. While transitioning from a permissioned to a permissionless network, you open your gates to a horde that are financially incentivized to exploit this newfound permission. How then are you going to secure yourself from an attack? Nobody has this figured out. It's mathematically unsound.
- drcode 7y agoIt doesn't make any strategic sense either: The whole point of being "permissionless" is to increase initial adoption by providing protections against "vendor lock in". But if you are capable of doing an initial launch on an permissioned ledger and achieve the initial network effects anyway, what's the point of providing such guarantees later on?
- baby 7y agoThere is nothing mathematically unsound, I would even say that it should be trivial to transition to a permissionless setting. You just need to implement a proof of stake algorithm. The only questions are: what scheme do we want to implement and when does it make sense to transition. Libra launching as permissionless would be DOA.
- jeromebaek 7y agotell me how to transition from pow to pos
- baby 7y agowhy? Libra is not pow.