[Cryptography] Securing cryptocurrencies

Tony Arcieri bascule at gmail.com
Wed Mar 11 20:37:00 EDT 2015

On Tue, Mar 10, 2015 at 9:52 PM, Ray Dillinger <bear at sonic.net> wrote:

> On 03/10/2015 12:52 PM, ianG wrote:
> >  I have suggested that the PoW algorithm
> > should be something that could be more usefully used by the rest of
> > society, like house-heating

I think a better solution is to create a protocol that doesn't rely on a
proof-of-work function. Still something of an open problem though.

I think the proof-of-stake approach used by systems like Tendermint are
interesting, and really what's holding back those sort of protocols now is
the simple fact that engineering a distributed consensus algorithm is
incredibly hard. Tendermint doesn't have a formal proof of correctness (in
terms of e.g. TLA+)

Tony Arcieri
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