/biz/ - Business & Finance

>>52559303
kindelia, bittensor, cbdc, etc
L1 ledger consensus essentially leverage a set of resources to secure another set of resources, with the design of focal points having super-linear impact on security. i.e. pow's security depends on the technological complexity of asic foundries, as well as the exploitation of physical resources and energy. whereas in pos, it depends onsocial dynamics of actors who seek to sustain a privileged positions. in both cases, nodes can not attack or collude without undermining their own assets or reputation
i feel there are still some unexplored consensus mechanisms worth researching, especially with token-less pow or pos. imagine
- proof of stake+burn: platform without token, but with a market API allowing self-referential understandings of the financial mass of diverse resources. the focal feedback loop is created by: transaction fees -> burns -> redistributed to stakes / algorithmic markets / vote on block validity -> blocks are evaluated and confirmed. problem is that malicious actors may create blocks to omit others' voting power, which is why consensus should be probabilistic and includes the entire network view, such that all forks are linked by subsequent blocks, possibly multiple times, and network nodes follow the highest financial mass or something
- no-algo pow: not just multi-algo, but we could find a way to allow all possible pow functions in blocks, with some hypothetical self-balancing algorithm automatically evaluating the difficulity and importance of works. this creates a very diverse set of mining communities which should be incapable of monopolizing each others, as well as recycling the asics of other coins. it also can be token-less and based on transaction fees alone. although this could be weak to history rewriting among other things. it's just a vague idea
- meta-networks (such as link's ccip): may benefit from the combined security of all platforms to yield higher-order consensus
- etc