tag:blogger.com,1999:blog-4503292949532760618.post5071213425538595609..comments2024-03-28T13:39:27.601-07:00Comments on DSHR's Blog: ImpossibilitiesDavid.http://www.blogger.com/profile/14498131502038331594noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-4503292949532760618.post-71989292732819533752024-01-31T19:20:16.018-08:002024-01-31T19:20:16.018-08:00Just FYI that the third proof is no longer valid -...Just FYI that the third proof is no longer valid -- a mechanism has been found that avoids the third impossibility proof -- solution involves the use of a "routing tax" enforced by cryptographic signatures that punishes participants who transfer block-production work between identifies:<br /><br />https://github.com/SaitoTech/papers/blob/main/sybil/A_Simple_Proof_of_Sybil_Proof_Lancashire-Parris_2023.pdf<br /><br />trevelyanhttps://www.blogger.com/profile/13787592227677203438noreply@blogger.comtag:blogger.com,1999:blog-4503292949532760618.post-27684056279948713512023-08-14T12:46:18.965-07:002023-08-14T12:46:18.965-07:00The Impossibilities post has been updated with An ...The Impossibilities post has been updated with <a href="https://www.bis.org/publ/work1117.pdf" rel="nofollow"><i>An impossibility theorem on truth-telling in fully decentralized systems</i></a> by Rodney Garratt and Cyril Monnet of the Bank for International Settlements.David.https://www.blogger.com/profile/14498131502038331594noreply@blogger.comtag:blogger.com,1999:blog-4503292949532760618.post-74338607706419429052022-11-06T10:25:01.011-08:002022-11-06T10:25:01.011-08:00The Impossibilities post has been updated with the...The Impossibilities post has been updated with the <a href="https://datafinnovation.medium.com/the-compliance-innovation-trade-off-72b9f8026f56" rel="nofollow">latest proof from Datafinnovation</a>.David.https://www.blogger.com/profile/14498131502038331594noreply@blogger.comtag:blogger.com,1999:blog-4503292949532760618.post-71211409594826654102022-09-06T23:49:28.240-07:002022-09-06T23:49:28.240-07:00The escrow smart contract explained in the link th...The escrow smart contract explained in the link that burns everyone's money if there's no agreement is insane. A fat finger error can not only lose your money, but the other party's money as well. Is there any way to change your mind so the contract will "unburn" and release your money? Sometimes it's the post office who makes the mistake, or shipping times take longer than expected, so both parties are telling conflicting truths, but eventually the product does show up.<br /><br />A genuine, trusted third party, escrow service would theoretically investigate to find out the actual truth of the matter, and charge a fee from the deposits for that service. Not simply yoink 3x the value of the transaction.<br /><br />So I assume, if they don't exist already, there will be escrow smart contracts that look over each wallet's history to calculate who is most trustworthy (since a program can't realistically look outside of the blockchain to investigate who's telling the truth). Which will lead to so much gaming the system.<br /><br />This is such a mess. To the extent any system is a "formal axiomatic system" it will be incomplete. The regular financial system which uses trusted third parties as escrow services, and companies like banks and VISA as arbiters, can't replicate the 'decentralized', pseudonymity of a public blockchain, and can't perform all of its functions without occasional unprogrammed intervention. Why do people think they can replicate the features of the regular financial system in cryptocurrency? And why do they think that even if they could they could create a system that does this with no intervention (which the so-called permanency of the ledger dictates)?Tardigradehttps://www.blogger.com/profile/08897374407990627879noreply@blogger.com