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<so>
anyone look at synereo or tezos yet?
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<bsm1175321>
synero claims to have sharding and proof of stake. That's two easter bunnies in one project. Two too many.
<bsm1175321>
I've been thinking a lot about sharding, and I know of no project that has anything remotely close to a workable idea.
<fluffypony>
Sharing seems like a very hard goal to securely satisfy
<bsm1175321>
I'm going to wrap up my braiding project for Scaling Bitcoin in Milan, but after that I'm devoting my attention to sharding. It's the next major scaling obstacle.
<katu>
i still feel uneasy about goedel and proof by exhaustion. once you exhaustively prove program is, in fact, correct, i'm not sure how the axiomatic self-referentiality comes into play.
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<Taek>
I hold the belief that sharding is about as viable as proof-of-stake
<Taek>
looked at it for a while around a year or so ago, and I couldn't convince myself that there's a way to trust something if you don't have all the data
<Taek>
perhaps with snarks
<Taek>
the problem is that with 100,000,000,000,000 transactions, all it takes is a single invalid transaction that you missed to corrupt everything
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<Taek>
If Coinbase were to execute a mammoth reorg (e.g. 25,000) blocks, how many coins could they recover that they've spent?
<Taek>
and, would that amount be enough cover the cost of the mammoth reorg (ignoring the fact that any mammoth reorg drives the price down immensley)
<katu>
selloff panic can be insured against, just short even higher amount than you invest in the reorg
<smooth>
There are a LOT more than 12.5 BTC moved per block
<katu>
Taek: however the reorg is no singular event. eventually you run out of capital to feed the 51%
<katu>
then what?
<smooth>
if you chain is longer at that point, then there is a good chance everyone continues to mine it
<katu>
will they? current centralizing mining is ugly, but has some nice perks too
<smooth>
"good chance"
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<katu>
hmm, i think what taek means is the logistic issues, how to re-inject all the rolled back transactions to non-malicious branch?
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<Taek>
I'm pretty confident that if we ever saw a reorg over some large threshold (perhaps 2000 blocks, but perhaps it'd take all the way up to 10,000 blocks) there'd be a massive reaction from the dev+commerce+mining community where everyone got together and hardforked back to the previous chain
<katu>
unless something changed, bitcoin doesnt actually do that?
<Taek>
getting a hardfork would require support from everyone, but with an event that big, I think you'd have it
<smooth>
popcorn futures, not shorting, would be the play
<katu>
smooth: thats for sure :)
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