21 is launching a new feature that makes it easy for businesses and individuals to rapidly get in touch with important people outside their social network, such as VCs, CEOs, angels, and founders.
Traditional consensus algorithms, whether they operate in a synchronous, partially asynchronous or fully asynchronous network model, and whether they are designed around simple faults, Byzantine faults or accountable faults, generally operate in a model where there is a fixed set of participants in the protocol, with the assumption that at least some fraction of that fixed set correctly follows the protocol.
In proof of stake protocols, however, validators can come and go, and even the absolute size of the validator set can shrink and grow greatly over time. 80% of the validator set at one time may well be smaller than 20% of the validator set at another time, and what in a fixed-set model is clearly equivocation, in a dynamic-set model may not involve any equivocation at all. How do we deal with this?
Ethereum creator Vitalik Buterin was interviewed on the most recent episode of Epicenter. During the interview, Buterin was asked for his reflections on The DAO.
The DAO was a venture capital fund of sorts with essentially no barrier to entry. After raising over $100 million worth of ether in an initial coin offering (ICO), a hacker took advantage of a flaw in The DAO’s smart contract code to begin draining much of the ether that was originally collected during the ICO process.