cryptocartman

rh

[cryptocartman @cryptocartman4]

@ripeth @Hodling_btc @BitMNR agreed

[cryptocartman @cryptocartman4]

@0xsashamai $eth looking good

[cryptocartman @cryptocartman4]

@0xsashamai @0xBreadguy @toghrulmaharram lol

[sashaaa @sashaaa]

@toghrulmaharram *Sh*t I really hope Toghrul sticks to Move instead of RISE, because I like him and I’m not ready to fight the boss.*

Btw a bit about what latency unlocks.
https://t.co/5uRFtSIAYI

[sashaaa @sashaaa]

@toghrulmaharram Insufficient economic guarantees is a legitimate concern, which is why we're going Based instead of, for example, slashing staked $RISE. A compromised sequencer is a strawman as at that point there are more concerns than user latency.

[sashaaa @sashaaa]

RISE is not MegaETH.

RISE will have Based Sequencing and Secured Shred Preconfirmations which can guarantee the order will hold, leveraging Ethereum preconfirmations to offer improved security.

Each Shred contains a signed commitment from an L2 based-sequencer which has been delegated rights from the L1 proposer to issue preconfirmations.

The key outcome of this secured commitment is if a users transaction is not included as promised, the user will have recourse, the user may slash the L1 proposer to recover potential economic loss.

(Presented this at EthDubai, lucky it came in handy)

[sashaaa @sashaaa]

There is a difference between decentralization and security.

Decentralization means not needing to ask a middleman for permission to participate in the network. Like, you can create a wallet or spin up a node without needing to register an account at your local bank.

Security means how secure the system is. Centralized banks can actually be pretty secure while there are many decentralized apps that have gotten wrecked in the past.

100 idiots having consensus on a wrong answer doesn’t make it right or secure.

[sashaaa @sashaaa]

Your original argument is that we cannot have secure preconfirmations without consensus.

The banking example was to differentiate decentralization vs. security. Because the middleman can say no for any arbitrary reason. Decentralization solves this, not security. The example emphasizes that you can have a centralized system that is secure.

And you, and your claim that consensus does not cover soundness, is evidence that you can have a decentralized system that is insecure.

While we agree that decentralization can contribute to security, it has to be quality (hint: economically slashable stake), not sheer consensus.

And that we’re working on that economical security regardless of decentralization.

And the whole point is that users making important transactions want security, not how many people agree on it (raw decentralization/consensus).

[sashaaa @sashaaa]

@toghrulmaharram We are going in circles at this point.

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[cryptocartman @cryptocartman4]

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