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proof of stake is extraordinarily complicated to get right. that's why it took so long. not only is the code changing, but so is the entire incentive structure
by sterlind 4y ago
proof of stake is extraordinarily complicated to get right. that's why it took so long. not only is the code changing, but so is the entire incentive structure of a huge virtual economy, running the code in a sprawling, Byzantine, decentralized system, while trying to keep a miner's revolt from sabotaging the whole deal.
- throw827474737 4y agoand when the simplest etherum contracts with many reviewer eyes allowed for exploits, how is anyone confident that this has been achieved correctly?
- meowkit 4y agoBecause there have been several testnet merges (including a shadow merge of the mainnet) that have been successful and identified issues that have been fixed.
- sterlind 4y agoI'm sure they've found and fixed issues. are you sure they've found and fixed all the issues? if I were a hacker, and I found a juicy bug in PoS, I'd sit on it until merge. either make money by shorting ETH and then wreaking havoc, or sell it to someone else so I don't get my hands dirty.
- sterlind 4y agoexactly! hence why I think this must be the most harrowing software upgrade of all time.
- worldsayshi 4y ago>not only is the code changing, but so is the entire incentive structure Is there any good writeup or video essay about how incentives and control will change? I'm a bit sceptical about this part. Feels like ethereum owners now have a big incentive to make this change benefit them rather than the utility of ethereum. Like I heard this will make it even more deflationary which seems like an odd choice.