Wednesday, June 13, 2018

A better Ethereum split

Keep two block chains, one for protocol bytecode and one for data.  Separate miners, the code block chain is updated with new protocol code rarely and by protocol proofing prior.  Instead of chain swapping we are cross chain verifying, miners agreeing on the section of data transferred and the protocol involved.

Each miner has a copy of both chains, and can prove, independently, that protocol acted as configured yielding the proper outcome. It if further simplified is we can show, apriori, for any set of wallets, which wallets are at risk of fraud, that is, ex ante proofing of the protocol should yield more detailed information about each outcome. Each outcome of a closed protocol is a path through a decision tree, we need only prove the path, not all the branches.

The current ethereum remains the same, but we enable external calls to a protocol miner, which rapidly verifies from a trusted bytecode chain, returning back to the ethereum calling chain.  Ethereum become a master control system operating from a trusted protocol library. Call it a Smart Swap Net, a liquidity machine.

The best solution is write an ethereum ledger interface with a limited but finite set of access functions on the Eth chain. Short, thin sequences, of which ''recall before timeout' is a  a basic.  Expose that interface to Telegram, let the python bots form trading groups around certain functionality.

Difficult to defraud for long as ex post the analysis can prove a false path. But the protocol miners are still subject to attacks.

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