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

Phillip Hallam-Baker phill at hallambaker.com
Wed Sep 16 19:10:53 PDT 2015

On Wed, Sep 16, 2015 at 9:47 PM, Ben Harris <mail at bharr.is> wrote:
> At the end of the day, don't these all just build upon a different
> definition of trust?
> In the centralised architecture you trust that none of the authorities are
> compromised.
> In Bitcoin you trust that no one has spent the money to get to 51%.
> In PoS are we trusting that no one has purchased a majority stake?
> In transparency methods, we trust that no more than N-1 verifiers are
> colluding.
There is a big difference in the incentives created.

In a multiple notary system the notaries have a major incentive to reject
collusion attempts, it is the end of their business. BitCoin on the other
hand creates a multi-million dollar incentive to defraud the system with
absolutely no accountability for the parties making the attempt.
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://moderncrypto.org/mail-archive/messaging/attachments/20150916/95f469ac/attachment.html>

More information about the Messaging mailing list