3 ms·
The lack of action around ETH2's move to PoS makes me somewhat skeptical of the confidence in these arrangements. Does each block need a strict majority of out
by andrewla 7y ago
The lack of action around ETH2's move to PoS makes me somewhat skeptical of the confidence in these arrangements.
Does each block need a strict majority of outstanding currency to pass muster? It seems like it would be super risky to align yourself with any stake unless you were sure that it was going to be the majority, lest you inadvertently follow a post-facto "malicious" branch.
Therefore it seems like it might require less than 51% of outstanding currency, depending on the level of risk you're willing to take on, and how much active stake is willing to commit itself to proving maliciousness -- if you're leading the "that was malicious" faction but your faction fails to assemble more stake than the attacker did, then instead you get burned, so there's no guarantee that evildoers will be brought to justice; and aligning with a reorganization in ETH is dicier in many ways (because of the per-address nonce's) than it is in a UTXO coin.
Attack vectors are never within the bounds of tidy proofs of complex ideas; Bitcoin's brute-force solution is very simple to verify the correctness of, and the effective cost of pulling off a double spend is fairly easy to compute from first principles with some very weak assumptions about the quality of the hash function used.
I'll give more credit to proof of stake when Ethereum makes the transition; at least then there's some skin in the game.
- carlosdp 7y agoIt will actually be staked currency, not outstanding, and it's more than 51% because Eth2 is sharded (64 shards at the moment) and randomly selects committees to verify blocks, so you'd need to hold enough validators (each holding 32 ETH) to guarantee a majority in a randomly selected committee for a block. And the Eth2 genesis won't occur until a sufficiently large amount of validators are active on the beacon chain, so you can't hijack it by investing large early.