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Peter Todd
@peterktodd
@opentimestamps founder pgp: 37EC7D7B0A217CDB4B4E007E7FAB114267E4FA04 25JUPL6ksapY1iCLWkFcSaXaA6Ar3W7JDCdPjeSApump 🇺🇦🇮🇱🇹🇼
1.2K Following    206.2K Followers
tl;dr: @lukedashjr decided to use a testnet4 block hash as the random beacon to pick BIP-110-chain's new PoW function. An absolutely batshit decision. It's clearly possible to manipulate that by just mining blocks with the right hash. Mining a testnet4 block has a trivial cost. So mining one with a specific last byte in the block hash – thus forcing a particular PoW choice – also has a trivial cost. When Zcash did something similar for a trusted setup, they picked a Bitcoin block in the future, and they specified that the block hash would in turn be re-hashed 2⁴² times¹ to ensure that absolutely no-one could possibly pick the value in advance (that's a 2-3 weeks of sequential computation). There's two possibilities here: 1) Luke is incompetent. 2) Luke is malicious, and is trying to pick a specific PoW. The possibilities are not exclusive. 1)
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Amazing work. The compensation should have been higher of course, and it should have been paid first by employees and managers responsible for the checkpoint policies. But better than nothing.
gmaxwell's FCC submission re: mandating KYC for phones (comments close today!)