I cannot believe that Crypto Twitter is still hopelessly confused about "weak subjectivity."
Every now and then, a community convinces itself of a wrong thing, or worse, it adopts a mental framework that is hopelessly confused and leads to brain fog. This is one of those instances.
Remember how CT thought, for the longest time, that PoW and PoS were two consensus protocols, and that they were the two kinds of consensus protocols that existed?

threadreaderapp.com/thread/1006931…
It took a lot of effort to eradicate that idea (though there are vestiges of it remaining in Wikipedia even today). Everyone now knows that consensus protocols are Classical (e.g. PBFT, HotStuff), Nakamoto (e.g. Bitcoin), and Avalanche. PoW and PoS are Sybil control mechanisms.
Remember when "nothing-at-stake" was touted as an insurmountable problem that would make PoS inherently insecure and unachievable? Remember serious-sounding-people talk about "stake grinding" attacks?
This April Fools piece hilariously was the last nail in the coffin of that stupidity.

blog.ethereum.org/2017/04/01/eth…
"Weak subjectivity" is a similarly hollow concern, around which serious-sounding-people with brain fog will write long pieces, but at the heart of it all, there's nothing there.
The core question to ask of any protocol is: what assumptions does it make?
Any given system will make multiple assumptions (e.g. "x should always be greater than 10"). Any given subcomponent of a large system will have its own assumptions.
While discussions can focus on subcomponents, such as the decision protocol versus the bootstrap protocol, at the end of the day, the only thing that matters are the strongest set of assumptions a system makes.
For example, if phase 1 assumes that x should be in the range [0..99], and phase 2 assumes that x should be in the range [0..49], then this system works only when x is in the range [0..49]. The weaker assumption in phase 1 is immaterial.
Systems with weaker assumptions (your heart rate is >0) are better than systems with stronger assumptions (your heart rate is >190), because stronger assumptions are less likely to be correct.
Cryptotwitter never figured out how to properly characterize assumptions related to bootstrapping PoS chains, or to put them in context next to assumptions related to decision protocols.
I have treated the phrase "weak subjectivity" by itself is a marker for a confused mental framework, and have tried not to engage with it. It is not a phrase that you see in any academic literature. It's just Twitter.
Weak subjectivity refers to a set of assumptions regarding bootstrapping a PoS system, and these assumptions are different from that for, say, PoW-based coins.
PoW-based coins typically require a majority of their nodes to be honest. They need 51% to be honest to thwart reorgs and double-spends, and they need 67% honest to thwart selfish mining attacks. But to bootstrap, they need just 1 correct node.
PoS-based coins are a mess, because they have typically been designed by people suffering from this brain fog. I cannot even begin to characterize many of them, and the folks who write those crap papers don't know how to enunciate their assumptions. But...
I can talk about Avalanche. Avalanche has a parameterizable decision protocol that can withstand huge attackers, even 80%, with safety, but not liveness. It requires 51% honest nodes for liveness and safety together. And its bootstrap requires 51%.
The strongest assumption made by Avalanche is thus
51% honest. This is equal to or weaker than the strongest assumption made by PoW coins, which assume 67% honesty. Remember, weaker is good in this game.
So, if someone is still going on and on about "weak subjectivity," and how it's a problem for any coin, then all they are doing is marking themselves as someone who is clueless, regurgitating drek from social media instead of anything scientific.

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More from @el33th4xor

29 Sep
Today marks the first week anniversary of the birth of #Avalanche. I want to quickly recap where we are, what we’ve been up tin that first week, and what we’re planning to do.
With Avalanche, we’ve innovated at every level of blockchain networks. Foundationally, with a breakthrough in consensus protocols, and then continuing, layer-by-layer, to evolve areas like network and virtual machine models that other projects had skipped over.
In doing so, we built the first smart contracts platform that delivers sub-second finality, supports the entirety of the Ethereum virtual machine and development toolkit, and enables up to millions of independent validators to participate as full, block-producing nodes.
Read 12 tweets
17 Sep
September 21st will mark the beginning of a new era for cryptocurrencies, blockchains, and decentralized applications, as we launch @AvalancheAVAX to the world: medium.com/avalabs/ready-…
Avalanche aims to follow in Satoshi’s footsteps to have the same, defining impact as we stand on the cusp of a new decade. It will create a market structure driven by velocity, efficient use of capital, and innovation in new products & services that aren't possible today.
It is the first smart contracts platform that delivers sub-second transaction finality, supports the entirety of the Ethereum virtual machine and development toolkit, and enables up to millions of independent validators to participate as full, block-producing nodes.
Read 4 tweets
11 Sep
Everyone is talking about the sushi drama.

To me, the whole saga simply underscores just how young and immature the space is.
A simple Litmus test for all coin news is simply the following:

Is this thing that's getting a lot of airtime taking the space forwards, backwards, or down into a ravine?
It's pretty clear that Sushi brought little value and hollowed out a bit of Uniswap, a great project, without actually making the space tangibly better. Its one benefit may be to underscore the need to protect one's intellectual property.
Read 5 tweets
11 Sep
This is how many blockchain projects work: lots of hype, lots of technical-sounding claims, partnerships with companies too embarrassed to say they were duped, and no actual working novel system, just smoke and mirrors around old tech.
cnet.com/roadshow/news/…
They literally used a concealed cable to pull a non-working truck. The central tech didn't exist, it was just a rebranded gas engine.
Meanwhile, we have seen crypto projects that just rebranded old protocols from 1999 as if they had a new invention. We've seen centralized coordinators, equivalent to a concealed wire. Best of all, we are beginning to see systems that don't even tolerate Byzantine faults!
Read 5 tweets
20 Aug
Fascinating study of countries' reported COVID cases using Benford's Law. If you do not trust your country's reported number of cases/deaths, this is a statistical way to check their veracity.
Benford's Law says that leading digit of numbers from real data sets follow a certain distribution that favors small digits. Eg. the leading digit should be 1 about 30% of the time, 9 only 5% of the time.

When people make up numbers, they typically violate this distribution.
So @zekib collated data from many countries, and analyzed them using Benford's Law. You can see the results on page 27 of the following link.

app.powerbi.com/view?r=eyJrIjo…
Read 6 tweets
14 Aug
I'm worried about the effect of high ETH fees on DeFi.

A quick thread on what can go wrong.
Recall that much of DeFi involves collateralized lending, where the borrowers 1. use high leverage, and 2. use the loaned amounts to buy into other crypto assets. It comes down to people providing X as collateral and buying Y.
Imagine that there's a modest-but-significant drop in crypto prices. If X drops relative to Y, for whatever reason, the collateral is insufficient, and liquidation mechanisms need to kick in.
Read 11 tweets

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