[messaging] Do Blockchains solve Zooko's triangle? (was: Another Take At Public Key Distribution)

Jae Kwon jae at tendermint.com
Wed Sep 16 18:02:24 PDT 2015

On Wed, Sep 16, 2015 at 4:25 PM, Tao Effect <contact at taoeffect.com> wrote:

> Yes, there are definitely improvements to be made in all blockchain
> styles, and there are tradeoff’s everywhere.
> Tendermint’s tradeoff’s are at least:
> - The blockchain could come to a halt (stop updating). Was this addressed?
- The blockchain is less permissionless because it is Proof-of-Stake, not
> Proof-of-Work, so it’s possible that an adversary could purchase perpetual
> ownership of the blockchain.

Does Bitcoin address what happens once 51%+ does become malicious?  What
happens then?

The blockchain is less permissionless because a random arbitrary actor with
more mining power can come in at any time and do as it will?  Tendermint is
immune to strange third parties that tries to impose its will.  We should
try to define what "permissionless" really means -- when you dig into it,
you will find that Bitcoin offers nothing.
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