Slaying a dragon, one fork at a time (Pt.2)
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.
(Source: Sia Discord Channel)
Read the timeline of this development here:
Slaying a dragon, one fork at a time
"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."
"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."
"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."
There are many nuanced and not-so-obvious issues that arise due to how Single Sign-On functionality interacts with local account management on 3rd parties (referred to as relying parties in the context of SSO). Facebook's current actions do not prevent these attacks (2/n).— jason polakis (@jpolakis) September 29, 2018
"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
"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."
3/ This past month, we've been swamped with requests about ICO treasuries and their effect on the price of ETH. We helped @BitMEXResearch and @thetokenanalyst to find out what actually happened using onchain transactions for 222 ICOs!https://t.co/B1VJtIaJin pic.twitter.com/zR2YdNXNfB— TokenData (@TokenData) October 1, 2018