Share this page!

Enter URL or ID to Unroll

You can paste full URL like: https://x.com/threadreaderapp/status/1644127596119195649
or just the ID like: 1644127596119195649

How to get URL link on X (Twitter) App

  1. On the Twitter thread, click on or icon on the bottom
  2. Click again on or Share Via icon
  3. Click on Copy Link to Tweet
  4. Paste it above and click "Unroll Thread"!
  5. More info at Twitter Help
David
@JoelKatz
Dec 3, 2020 • 8 tweets • 8 min read • Read on X
@cczurich @Ripple @micicjo @OpodisConf I welcome papers like this and appreciate having any weaknesses identified and pointed out. Any opportunity to improve XRPL’s consensus protocol or the security and reliability of blockspace generally is a good thing. 1/8
@cczurich @Ripple @micicjo @OpodisConf The attack on liveness outlined in the paper identifies intentional behavior. If a substantial fraction of your UNL is malicious, you don’t want to make forward progress, you want to fix your UNL. 2/8
@cczurich @Ripple @micicjo @OpodisConf The attack on safety is comparable to attacks in other blockchains. Bitcoin loses safety if an attacker can partition the network. XRPL is more resistant because an attacker has to both partition the network and control part of your UNL. 3/8
@cczurich @Ripple @micicjo @OpodisConf XRPL was designed to prioritize safety over liveness. The safety attack is really impractical and an attacker only gets one chance before they get removed from everyone’s UNLs. 4/8
@cczurich @Ripple @micicjo @OpodisConf Unlike in systems like bitcoin and Ethereum, XRPL's design allows all participants to enforce censorship resistance. Validators are not like miners - the only thing they’re trusted not to do is conspire to temporarily stop/intentionally disrupt the network. 5/8
@cczurich @Ripple @micicjo @OpodisConf The overall philosophy of the UNL is that attackers get one chance to jeopardize liveness and then they are forever off the UNL. Those who do not jeopardize liveness accumulate on the UNL. 6/8
@cczurich @Ripple @micicjo @OpodisConf Attacks on safety also require significant control over the propagation of messages on the network, which makes them impractical. This is why bitcoin’s complete lack of partition tolerance isn’t a practical problem. 7/8
@cczurich @Ripple @micicjo @OpodisConf I've long said that PoW is a technological dead end for decentralization while federated byzantine agreement algorithms can continue to improve, providing better censorship resistance and safety at higher speed and lower cost. 8/8

• • •

Missing some Tweet in this thread? You can try to force a refresh
　

Keep Current with David "JoelKatz" Schwartz

David

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @JoelKatz

David
Dec 8, 2023
As many of you know, I sold 40,000 ETH at about $1 to put solar panels on a house I no longer own. That ETH was worth over $100 million shortly after. 1/5
My father, ironically, did almost the same thing. After my older siblings moved out, my parents didn't need the enormous house we were living in. But it needed quite a bit of fixing up to sell. 2/5
So my father sunk a lot of money into gutting and redoing the house. But during the months it took to do that, as renovation costs escalated, the real estate market crashed. He took a huge loss on the deal. 3/5
Read 6 tweets
David
Apr 13, 2023
@ScamDetective5 Sure.
1. XRPL certainly needs the Internet for now and the foreseeable future.
2. No CBDCs on XRPL right now. ...
@ScamDetective5 ...
3. We've never seen 1,500 TPS on the live XRPL. I suspect it could, as currently configured, probably sustain about 300-500.
4. While someone could create a basket containing XRP, the only current reason to do so I can think of is as for cryptocurrency index exposure. ...
@ScamDetective5 ...
5. True, RippleNet does not use ODL liquidity and proposals to allow it to do so all include new sources of liquidity.
6. True XRPL is the only public blockchain missing 32,569 blocks but others (like ETH) have much worse gaps in public transaction data. ...
Read 7 tweets
David
Mar 24, 2023
I've gotten some criticism recently for not calling out scams more than I do. I'd like to share some of my thinking on this. 1/4
I'm not going to call out a scam that isn't obvious. I really don't want to take the risk that I'll call out a legitimate project as a scam. Having had my work called a scam so many times by people who didn't take the time to understand it, I don't want to do that to anyone. 2/4
And I'm not going to try to call out every scam. That's a fool's errand. But also that can wind up backfiring and effectively endorsing everything you don't call out as a scam. 3/4
Read 4 tweets
David
Dec 15, 2022
Sam made a serious miscalculation in his public communications after FTX collapsed. Almost literally everyone could see that nothing he could say would help him. Prosecutors will ignore anything he says that helps him. But anything harmful will be an exhibit in a future case. 1/5
Sam likely figured his biggest risk of criminal prosecution was around him knowingly loaning, investing, or risking FTX customer funds. Thinking he could reduce that risk, he created a narrative that he failed to provide adequate controls against doing so accidentally. 2/5
But as anyone who watches Law and Order knows, when you commit to a narrative, the prosecution can adjust their accusations to fit that narrative. There is, of course, a huge moral issue with charging people with crimes based on a narrative you know is false. 3/5
Read 7 tweets
David
Dec 15, 2022
Sam's political contributions could have been a brilliant strategy to insulate him and his company from scrutiny, get himself favorable regulation, and so on. But I think that they are actually going to backfire on him spectacularly. 1/3
For one thing, many of his contributions will probably be clawed back or recipients will be shamed into returning them. The contributions are also a source of embarrassment to those who received them. 2/3
But worst of all for him, they are likely producing anger in many of the recipients. Variants of "That jerk thinks he can buy me off? I'll show him!" are probably running through the heads of every recipient of Sam's money not named Kevin O'Leary. 3/3
Read 4 tweets
David
Dec 15, 2022
The @SBF_FTX indictment looks very rushed. It's very light on factual details, doesn't name any co-conspirators, and covers only a tiny fraction of what we know happened. 1/5
That said, these are still serious Federal charges that could put him away for a very long time. And I don't think the rushing will do any harm. Other charges can be added later and more details aren't strictly necessary at this stage anyway. 2/5
But that does leave the question -- why the rush? And there are a lot of possible answers. One is that the perception that the US governmentt wasn't doing anything was starting to sting. Sam being free seemed a travesty to many. 3/5
Read 5 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us!

Send Email!

:(