@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 𝚂𝚌𝚑𝚠𝚊𝚛𝚝𝚣

𝙳𝚊𝚟𝚒𝚍 𝚂𝚌𝚑𝚠𝚊𝚛𝚝𝚣 Profile picture

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

Read all threads

This Thread may be Removed Anytime!


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

18 Nov
Some things of value are (ideally) completely fungible like money, cryptocurrencies, and gold. Some are completely non-fungible like collectibles and houses. But there are also a lot of things that live in a semi-fungible middle like concert tickets and airplane tickets. 1/7
Blockchains started out with completely fungible assets and are now moving to cover non-fungible assets. But there's a huge market for assets in the squishy middle that is very poorly-served today. That is the market for digital rights. 2/7
Digital rights are rights to access particular content through some service that provides the content when needed. They include video games on services like Steam, books on systems like Kindle, and movies you've purchased on services like Netflix, Hulu, and Amazon Prime. 3/7
Read 7 tweets
2 Nov
Anyone have any opinions of AngelList's syndicate system? My primary concern is that nobody has any significant incentive to do any due diligence because the investment from the lead tends to be either not disclosed or negligible.
If only syndicate members have skin in the game and everyone else is playing with house money, where's the incentive to make the deal fair to syndicate members? And who is incentivized to do the thorough due diligence needed for such early stage investment? Am I wrong?
If I'm investing $10,000 and there's a lead whose investing $500,000 at the same terms I am, then I don't worry too much about having to check out the deal in full detail. But for $10K, I can't afford to do that and if nobody else can either, then it seems like a bad deal.
Read 4 tweets
30 Sep
1/ ICYMI my keynote (or two) at #ApexDevSummit, I want to highlight the exciting updates coming to the #XRPL 👇
2/ Today, XRPL devs can take advantage of the 1st implementation of Federated Sidechains – a toolkit or test lab to build your own blockchain while still enjoying the benefits and functionality of the #XRPL Mainnet. @MonkScott dives in here: bit.ly/3AWFVkB
3/ Sidechains make it easy for developers to customize the chain for their use cases, such as private networks, securities trading, DeFi...
Read 9 tweets
7 Jun
Today I introduced my vision for adding federated sidechains to the XRP Ledger which means a lot of things but essentially that anyone who wants to, can run a sidechain to the XRPL. 1/6 dev.to/ripplexdev/a-v…
The “federator” is software that acts as a bridge between at least two instances of the XRP Ledger, i.e. the XRPL mainnet and one or more sidechains. 2/6
This concept would allow each sidechain to have its own ledger and transactions, as well as a federation system that allows XRP and issued tokens (BTC, fiat, anything really) to move from one chain to another. 3/6
Read 6 tweets
24 Feb
Version 1.7.0 introduces key improvements that directly impact the network’s server operators, i.e. slashing memory usage by 50% to reduce server cost and improve server stability. 1/4
Memory is a critical (but scarce) resource (esp. w/ virtualization), short-term usage specifically is a huge pain-point for server operators. By reducing the amount required, small servers and large clusters alike benefit. 2/4 (More on this here: blog.ripplex.io/how-ripples-c-…)
Also newly introduced is forward ledger replay, which helps to save server time and bandwidth by "playing forward" transactions from a previously saved ledger until it catches up to the network, improving network stability. 3/4
Read 4 tweets
29 Jan
Investors in almost everything can reasonably expect their gains to average well above what they could get if they took no risk. A stock portfolio might average 6% or 8% a year, more than bonds or savings accounts. 1/6
But really, no investment can be rationally expected to do significantly better than any other once adjusted for risk. Why? Because if one was, it would get crowded and whatever value it could produce diluted until it was no longer significantly better. 2/6
This is why I opposed bailouts for travel companies throughout the pandemic. Their owners made good money for many years and in exchange they took the risk that a global event would devastate their industry. That's the deal. 3/6
Read 6 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

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

Donate via Paypal

Thank you for your support!

Follow Us on Twitter!