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Updated: 16 hours 28 min ago

Looking for a mathematician to co-author a consensus protocol proposal

Thu, 03/15/2018 - 22:23

I've recently been working on a proposal for a hybrid PoW/PoS consensus protocol called "Proof-of-Time-Ownership". However, I've gotten stuck on the math of analyzing the minimum cost of attacking a system using this protocol. For N=0, the solution is simple, and already has benefits over pure PoW. But using N=0 cuts out much of the benefit of the rest of the protocol.

At N=1, the formula for minimum cost already involves somewhat ugly math - quadratic equations where the strict minimums (found at the zeros of the derivative) are out of boundaries.

At N=2 it involves a quartic equation, and at N=3 it involves a sextic equation.

These are all things that are a bit out of my depth, especially at N=2 and N=3. I'm looking for someone to help me analyze the cost of attack here so I can confidently compare it to the cost of attacking Bitcoin and so other protocols can compare their security to PoTO.

Does anyone know anyone who might be interested in co-authoring this proposal?

submitted by /u/fresheneesz
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Abra is the next coinbase !

Thu, 03/15/2018 - 20:03

Check the app guys, user friendly, fast, low fees and much more cryptos available to buy. The challenger has arrived !

submitted by /u/N9A9d1989
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We are not the "blockchain" space: we are the "cryptocurrency" space

Thu, 03/15/2018 - 19:31

In case you guys wondered what a certain Andreas Antonopulous means when he says things like this

repeat after me:

blockchain isn't the important part of cryptocurrencies, its just a data structure. the emphasis should be on "cryptocurrency" startups, "cryptocurrency" space, "cryptocurrency" in general.

"Stop being such a pedant and let me moon"

You do whatever you want. But you are completely missing the point, same as most people in this space.

By calling this the "blockchain" space, and "blockchain" startups, you are emphasizing that its the blockchain that's really valuable. (Which it is not)

A lot of people on every crypto subreddit are acting as if they are so much smarter than the wall-street analysts, and then proceed to commit the same fallacies and display the same level of ignorance as them.

A blockchain only adds value to society if:

  • it solves a need society has (demand for it)
  • it does so in a way that empowers every user equally: aka it has the decentralized, open, distributed attributes the Bitcoin blockchain has, for example

LET ME REITERATE THIS: Bitcoin doesn't have value because it uses a blockchain, Bitcoin has value because its cryptographically secure.

The only way that happens is if the blockchain is secured through cryptography.

While I'm not saying blockchain has no value, its certainly subordinate to that of cryptography.

Cryptography is what will "bank the unbanked", "give monetary sovereignty back to the people" etc.: blockchain is the tool that solves a specific cryptographic problem that stopped us from implementing a cryptographically secure currency on a global scale.

Cryptography has been used for millenia, not blockchain. We didn't have "blockchains" and suddenly invented cryptography to make them work.

Its not a "blockchain-currency", its a "crypto-currency"

Dr. Adam Back is a cryptographer, not a blockchainer.

Satoshi Nakamoto is\are\were cryptographer\s, not blockchainer\s.

So please, stop saying "blockchain" this, "blockchain" that. Blockchains are what suit and tie nerds think will change the world. Cryptography is what matters.

submitted by /u/HavocMMA
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All of my minimum fee transactions are confirming in under an hour now lol

Thu, 03/15/2018 - 18:52

Just pointing out (again) that I have now sent a quite a few transactions today using the "Minimum fee", and man they are confirming VERY quickly for costing 1 cent. The Segwit transactions are actually confirming faster on average...

submitted by /u/Captain_TomAN94
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Bitcoin is a global network - if it was represented by physical land area, owning one bitcoin would be equivalent to owning 7 square miles of land

Thu, 03/15/2018 - 14:42

Total land area of Earth is 149m Square miles; total bitcoin 21m; 149m/21m ~ 7

submitted by /u/autonova3
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