From the So-Obvious-No-one-Has-Bothered-to-Write-It-Down-Department:
tl;dr: Micropayment channels can be extended to arbitrary numbers of
parties using a nearly completley untrusted hub, greatly decreasing
transaction fees and greatly increasing the maximum number of financial
transactions per sec
> I think what Gareth was getting at was that with client-side validation
> there can be no concept of a soft-fork. And how certain are you that the
> consensus rules will never change?
>
Yes, it is true that you can't do a soft-fork, but you can do a hard-fork.
Using scheduled updates: client sim
>
> "Secure" and "client side validation" don't really belong in the same
> sentence, do they?
>
Well, client-side validation is mathematically secure, while SPV is
economically secure.
I.e. it is secure if you make several assumptions about economics of the
whole thing.
In my opinion the former
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On 12/12/2014 01:41 PM, odinn wrote:
> I think the Mastercoin devs are doing fine work
I wonder if all the Mastercoin devs would agree with that statement.
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Peter... It kind of sounds to me that (as fine of a position paper as
this is) on _certain_ points, you're falling prey to the "but it's
inefficient, but it's a scamcoin, but luke-jr told me so" argument...
I think the Mastercoin devs are doing fine
On 12/12/14 20:05, Peter Todd wrote:
> Secondly using a limited-supply token in a proof-of-publicaton system is
> what lets you have secure client side validation rather than the
> alternative of 2-way-pegging that requires users to trust miners not to
> steal the pegged funds.
"Secure" and "clie
Introduction
While not a new concept proof-of-publication is receiving a significant
amount of attention right now both as an idea, with regard to the
embedded consensus systems that make use of it, and in regard to the
sidechains model proposed by Blockstream that rejects it. Here we
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