Slaying a dragon, one fork at a time (Pt.2)

Leo Zhang

By Leo Zhang

The decentralized cloud storage project Sia announced a plan to hard fork. The intention of the fork, as explained by project lead David Vorick, is to brick the dominant batch of ASIC miners from Bitmain and Innosilicon, in order to make the ASIC landscape more competitive.

Screenshot-from-2018-10-02-10-24-41
(Source: Sia Discord Channel)

Read the timeline of this development here:
Slaying a dragon, one fork at a time

Sia proof-of-work reset
(Sia Blog, by David Vorick)

"For this reason, one of the things that we like to see is low margins for miners and manufacturers. When there are high margins, at least one player (the benefactor of the high margins) is able to acquire hashrate more cheaply than everyone else, and therefore is able to more easily attack the network. If margins are lower, then this asymmetry is less severe."

Sia fork AMA

The Sia team is here to answer your questions. Ask us anything! from r/siacoin

Technical updates

Learning from cryptocurrency breaches
(Ryan McGeehan)

"To greatly reduce the rate of cryptocurrency incidents in the wild, the earliest stages of cryptocurrency developers need access to tooling that mitigates wallet breaches from private key exposure and application risks while still allowing development speed in a prototype phase."

Battle of the privacycoins: What we know about Grin and Beam's Mimblewimble
(Bitcoin Magazine, by Aaron van Wirdum)

"In the Mimblewimble protocol, however, this is taken a big step further. By combining CT and CoinJoin with more clever math, Mimblewimble gets rid of traditional private keys, public keys and addresses, only keeping inputs and outputs (these are technically not the same thing as addresses). It also gets rid of the traditional signature per transaction, which is essentially replaced with a little bit of 'excess transaction data' proving ownership of the coins."

Authentication and access control flaws that led to Facebook's massive breach

From Nash to Lyapunov
(Michael Zargham)

"In this view of coordination protocol design, there is not actually an optimization algorithm other that the agents themselves, so the primary results of interest are convergence and stability results around the Nash Equilibrium which is a unique global minimum, without need to characterize the agents’ behavior beyond decrease in the potential function in expectation. This type of stochastic process is called a super-martingale, which actually allows for each agent to move against own interests quite frequently without breaking convergence properties."

News & Commentary

Ethereum holdings in the ICO treasury accounts
(BitMEX)

"As for the unrealised profit and loss situation, the ICOs are sitting on net gains of US$93 million based on an Ethereum price of US$215. It may surprise some that ICOs are still in a net unrealised profit situation, but many of the Ethereum balances were built up before the price rally at the end of 2017, as the chart below indicates. Although some individual projects may be suffering significant losses."

Bitcoin recap - September 2018

r/Bitcoin recap - September 2018 from r/Bitcoin