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Children Playing Blockchain

jott.live

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Re: Children Playing Blockchain

#31

Post by spijdar »

spurdoman77 wrote: post #20
ronsor wrote: post #2

> The first class lost the students that simply couldn't keep up with the increasingly difficult sudokus. This is the story of every proof-of-work cryptocurrency. After a certain point, they only serve to make the rich even richer. Look at Bitcoin for example, where over 50% of the hashing power is controlled by big Chinese mining operations.

Proof of stake literally makes rich richer, thats the point of it - holders can mint new blocks. With proof of work there is actual work involved tol, not just minting money with your capital.

In either case you can use your accumulating capital to accumulate more capital -- PoW just means consuming actual resources to do so, as you fold your earnings into more hardware and electricity to earn more.

Re: Children Playing Blockchain

#32

Post by vaer-k »

UncleOxidant wrote: post #23
jamesgreenleaf wrote: post #18

A third class plays using a consensus model based on explicit relationships of trust. Each student keeps track of which of the others they consider trustworthy. Since they all play together everyday, they know who is nice, and who is naughty. When a supermajority trusts the student placing a new block, that student is allowed to place it anywhere. When not enough people trust the student placing the block, they preve…

Which cryptocurrency does this describe?

Stellar, I think

Re: Children Playing Blockchain

#33

Post by [deleted] »

UncleOxidant wrote: post #23
jamesgreenleaf wrote: post #18

A third class plays using a consensus model based on explicit relationships of trust. Each student keeps track of which of the others they consider trustworthy. Since they all play together everyday, they know who is nice, and who is naughty. When a supermajority trusts the student placing a new block, that student is allowed to place it anywhere. When not enough people trust the student placing the block, they preve…

Which cryptocurrency does this describe?

[deleted]

Re: Children Playing Blockchain

#34

Post by verdverm »

bsmith89 wrote: post #26
jamesgreenleaf wrote: post #18

A third class plays using a consensus model based on explicit relationships of trust. Each student keeps track of which of the others they consider trustworthy. Since they all play together everyday, they know who is nice, and who is naughty. When a supermajority trusts the student placing a new block, that student is allowed to place it anywhere. When not enough people trust the student placing the block, they preve…

I could be misunderstanding, but I think the problem with this approach is the lack of permanent identity. What's a "supermajority"? Could I get it by making a bunch of fake identities and having them all "trust" me? Alternatively, we could ask for a supermajority of coins, and then I think we've re-invented proof-of-stake.

You don't need coins, this is a permissioned chain where people agree on who can participate off-chain. Call it proof-of-authority. See Hyperledger Fabric

Re: Children Playing Blockchain

#35

Post by Jasper_ »

capnorange wrote: post #10

> but without 2 years of constantly solving sudoku under their belt, they couldn't compete with the more experienced sudoku-solvers Inaccurate analogy. Miners are more limited by cheap electricity/cooling than CPU which is more generally available.

The top Bitcoin mining pools in China create their own mining ASICs in house for competitive advantage. You just can't compete without spending years catching up to their hardware designs.

Re: Children Playing Blockchain

#36

Post by verdverm »

kleer001 wrote: post #25
jamesgreenleaf wrote: post #18

A third class plays using a consensus model based on explicit relationships of trust. Each student keeps track of which of the others they consider trustworthy. Since they all play together everyday, they know who is nice, and who is naughty. When a supermajority trusts the student placing a new block, that student is allowed to place it anywhere. When not enough people trust the student placing the block, they preve…

> Each student keeps track of which of the others they consider trustworthy. How do you turn that into code?

proof-of-authority with standard auth(n/z), consortiums is perhaps an apt name?

Re: Children Playing Blockchain

#37

Post by krcz »

spurdoman77 wrote: post #20
ronsor wrote: post #2

> The first class lost the students that simply couldn't keep up with the increasingly difficult sudokus. This is the story of every proof-of-work cryptocurrency. After a certain point, they only serve to make the rich even richer. Look at Bitcoin for example, where over 50% of the hashing power is controlled by big Chinese mining operations.

Proof of stake literally makes rich richer, thats the point of it - holders can mint new blocks. With proof of work there is actual work involved tol, not just minting money with your capital.

Only if by "work involved" you mean burning lots of electricity with expensive GPUs/ASICs.

Re: Children Playing Blockchain

#39

Post by shoo »

physical-economy interpretation: the teachers and children are lucky enough to live in a rich society where only a fraction of the population are required to do productive work such as growing food, distributing clean water, building and maintain housing and providing healthcare services. the teachers and children are freed from the burden of contributing productive work that benefits society and can instead engage in complex art / ritual / prayer activities involving plastic bricks, dice and sudoku.
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