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Actually Ethereum requires you to trust the mining pools that make up 51% of the hashing power of the network. Codius allows you to select oracles based on wha
by emschwartz 12y ago
Actually Ethereum requires you to trust the mining pools that make up 51% of the hashing power of the network.
Codius allows you to select oracles based on whatever criteria you like -- including using mining. The nodes don't necessarily need to be reputable, you just need them not to collude
- l_m_g 12y agoThis. The "trustlessness" in Bitcoin & Ethereum are conditional on the lack of collusion between miners. It's particularly jarring to hear people clamor that it's "trustless", confusing the computational security of crypto with the much weaker game-theoretic security of Bitcoin. Marketing I suppose.
- drcode 12y agoAs far as we know, blockchain systems are the best way so far to minimize the amount of trust. It's all well and good to talk about how imperfect blockchains are, but until something better comes along it seems like not much can be gained by parsing out different gradiations of "trust" in the way you suggest.