Friday, March 2, 2018

Proof of stake is predetermined in web router

The ethereum community should rethink proof of stake.

Any ledger that allows revoke with timeout automatically identifies the stake holder, the signature with veto . The power of one party to cancel the incomplete contract within timeout is really proof of veto.

The only race condition on the veto is ledger transaction fees, and the race condition becomes priced and part of futures. It works, the principle is to validate completion after  all stakeholders refused  to veto within time. Stable, but imposes speed bump.

The problem is not ledgers but pits like coinbase which require a reverse sale and the recall process carries additional price risk. We can configure the even money trading bot to offer a reverse sale within timeout. The thing previously bought is then immediately resold on the same exchange on recall.

Speed bump is a small price to pay since we will be getting the  linux secure context supporting hardware proof of work on validated processors..

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