Protocol for Asynchronous, Reliable, Secure and Efficient Consensus [pdf]
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Re: Protocol for Asynchronous, Reliable, Secure and Efficient Consensus [pdf]
#2Blockchains have been getting the lions share of attention for several years. PARSEC enabled networks, SAFE (MAIDSAFE) in particular, could change that. Blockchains have been battling energy usage, centralization and speed for awhile. Non-blockchain consensus should really open a lot of doors to allow decentralized, trustless, non-censorable solutions.
It will be interesting to see what other networks besides SAFE adopt this consensus mechanism.
Re: Protocol for Asynchronous, Reliable, Secure and Efficient Consensus [pdf]
#3I always felt that blockchain is a precursor technology like "Web 2.0", which laid the technical foundations (of Web APIs and micro-services) that enabled the explosion of mobile apps that followed.
If smarter people than me can mathematically verify the PARSEC algorithm as valid, it may lead the way for a radical change to the way information is propagated, secured and validated.
Re: Protocol for Asynchronous, Reliable, Secure and Efficient Consensus [pdf]
#4I always felt that blockchain is a precursor technology like "Web 2.0", which laid the technical foundations (of Web APIs and micro-services) that enabled the explosion of mobile apps that followed. If smarter people than me can mathematically verify the PARSEC algorithm as valid, it may lead the way for a radical change to the way information is propagated, secured and validated.
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Re: Protocol for Asynchronous, Reliable, Secure and Efficient Consensus [pdf]
#5Nice! I found Hashgraph very interesting, but their patent stance made it a no-go for any serious DLT project. Glad that there is now a similar project without the attached patent! Let's just hope that it's not so similar that it falls under the original one.
Still need to dig deeper into it, and would love to hear other peoples' evaluations, but at a first glance, PARSEC could actually be a serious player in the DLT game.
Re: Protocol for Asynchronous, Reliable, Secure and Efficient Consensus [pdf]
#6I always felt that blockchain is a precursor technology like "Web 2.0", which laid the technical foundations (of Web APIs and micro-services) that enabled the explosion of mobile apps that followed. If smarter people than me can mathematically verify the PARSEC algorithm as valid, it may lead the way for a radical change to the way information is propagated, secured and validated.
Yes, I'm also looking forward to what the crypto engineering community has to say about this algo after it has been peer-reviewed more often. If it holds the promises then it will would be VERY huge.
Re: Protocol for Asynchronous, Reliable, Secure and Efficient Consensus [pdf]
#7All my respect to David Irvine and his team, who have been working hard for 10y on this, busy coding instead of pumping.
Despite all the skeptics and critics, he comes out with a groundbreaking solution, makes it open source, and even goes so far as to reaching out the competition to give them a heads-up.
just wow.
Re: Protocol for Asynchronous, Reliable, Secure and Efficient Consensus [pdf]
#8Medium article that goes with the release:
https://medium.com/safenetwork/parsec-a-paradigm-shift-for-a...
Re: Protocol for Asynchronous, Reliable, Secure and Efficient Consensus [pdf]
#9Without proof-of-work, what protects consenus from the sybil attack?
As I understood, after quick scan of the paper, consensus is achieved by simple majority vote.
So if I setup 10,000 docker containers running malicious nodes, I could take over the network and forge any blocks I want.
What I am missing?
Re: Protocol for Asynchronous, Reliable, Secure and Efficient Consensus [pdf]
#10Without proof-of-work, what protects consenus from the sybil attack? As I understood, after quick scan of the paper, consensus is achieved by simple majority vote. So if I setup 10,000 docker containers running malicious nodes, I could take over the network and forge any blocks I want. What I am missing?
They mention 1/3 of the nodes. How much of a weakness is this?