Nchinda Nchinda
MIT grad, ethereum developer, bitcoin user
PoS and Caspar
@Firescar96
by Nchinda
PoS and Caspar
Bitcoin Club - Undergrad Course 6 - Ethereum Application Developer
2
PoS
Ghost
Ethereum
Caspar
PoS
- alternative to PoS
- no known correct implementation
- efficient in cost
- 51% of total supply > 51% block rewards
- immune to hardware centralization
- < transaction times
SHA256(prevhash + address + timestamp) <= 2^256 * balance / diffShort Range Attack
- nothing at stake
- why not vote for all forks at once
- altruism
Long Range Attack
- enter large coin
- acquire much coin
- do that some more
- rewrite history
Ethereum
Ξthereum
Ξthereum
Caspar
the friendly ghost
Short Range Attacks
- altruism
- security deposits
- punish hard
Long Range Attacks
- punish hard?
- keep score -> catching up costs Ξ-Ξ-Ξther
- users may sell old private keys
- still broken
What if we didn't allow Long Range Attacks?
What if we didn't allow Long Range Attacks?
Behold the Yapanese Rai Stone
praise be to satoshi for blockchains
Check Please
- checkpoints every N blocks
- current users are safe
- recent users are safe
- new users are not safe
- people off network for a while are not safe
Objective
Subjective
Caspar
Ripple
The OG Bitcoin
Weak Subjectivity
Capitalist (51%) Attack
- what about rich people
- locking up increases costs
- risk > reward
Find me online
-we're going to make blockchain great again
@firescar96
nchinda2@
Caspar
By Nchinda Nchinda
Caspar
Caspar, PoS protocol being designed for Ethereum
