sipa changed the topic of #bitcoin-wizards to: This channel is for discussing theoretical ideas with regard to cryptocurrencies, not about short-term Bitcoin development | http://bitcoin.ninja/ | This channel is logged. | For logs and more information, visit http://bitcoin.ninja
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<fluffypony>
"These cryptocurrency institutions have suffered intrusions resulting in stolen financials, or shutdown of the product. Nearly all closed down afterward. Each root cause is below, with a link to more information in the breach."
<waxwing>
s/all other causes/insider theft/g
<fluffypony>
:-P
<waxwing>
well, i forgot the FBI though :)
<katu_>
there are less publicized (albeit well documenented, if you dig forums/reddit deep enough). from top of my head, bitcoin-24 and poloniex
<fluffypony>
katu_: they accept PRs
* katu_
is not the journalist type, just rumor mongering :D
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<bsm117532>
kanzure: There aren't enough words on those slides for me to divine what he was thinking. But slide 11 makes me think he's thinking about sharding, not a block-dag.
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<bsm117532>
FWIW I do want to build a testnet which shards the UTXO set, and passes around proofs of inclusion/exclusion (using a UTXO set commitment). e.g. a transaction can only be committed when accompanied by proof that each of its inputs is unspent.
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<bsm117532>
This is what I think petertodd is thinking, and his complaint is that the size of the proofs is log(n) where n=utxo set size, per input. So you have to gather quite a bit of extra data for each transaction to prove it's valid. Nonetheless I want to build it and run some tests to see how practical it is.
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<bsm117532>
We're bouncing around ideas over here re: how to make UTXO set inclusion/exclusion proofs smaller, and validating faster. I met peter_r last night in person and we talked quite a bit about it. He wants UTXO set proofs for faster initial new-node sync.
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<nicolagreco>
is there any follow up on the braiding the chain idea?
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<bsm117532>
nicolagreco: code is here: https://github.com/mcelrath/braidcoin, right now I'm trying to work out a set of consensus rules that allow for regular, reliable forking and *merging*. Once I have that figured out, I'll (finally) publish it.
<nicolagreco>
oh the speaker of braiding the chain is you bsm117532 ?
<bsm117532>
Yes.
<nicolagreco>
oh bsm117532 great, this is funny
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<bsm117532>
Why so funny? ;-)
<nicolagreco>
bsm117532 I was going through the video to get the name of the speaker
<nicolagreco>
and send an email about some questions/intuitions
<nicolagreco>
and as soon as I saw your nickname they matched
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<nicolagreco>
about a month ago, I had a very similar intuition (but did not work out the math of how you can prevent a graph to grow widely rather than narrowly)
<nicolagreco>
the intuition is that we don't need the total ordering of blocks
<nicolagreco>
instead partial(causal) ordering would be enough
<nicolagreco>
and this would allow us to avoid throwing out the non-conflicting forks
<nicolagreco>
I am happy to discuss this further some time soon
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<bsm117532>
nicolagreco: Cool. I have to run out of the office for a little while right now, but feel free to post your thoughts here or mail me.
<bsm117532>
nicolagreco: By default you only have a partial ordering. I created the notion of a "cohort" which gives a total ordering based on graph structure alone. But if a braid is too "thick", no total order emerges. This is when beads are being created so fast that there are always some in flight.
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<bsm117532>
In that "thick braid" regime, conflict resolution by which-came-first is not possible. You need the total order.
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<BTCking>
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<bsm117532>
Minimizing network validation latency is a losing game, because it can't ever be zero. The better solution is to ensure miners can mine and validate simultaneously. (And that leads directly to braids -- a block has to have multiple parents to tie together the one that I mined while I was validating)
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<bsm117532>
jl2012: I worry that since your commitments aren't enforced, miners could lie about them to manipulate each other and gain advantage. e.g. fill "next" with either transactions that don't exist, or ones that can't work (already mined transactions, for instance).
<bsm117532>
Then we're back in the selfish mining game :-/
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