[HN Gopher] A Formulation of the Trilemma in Proof of Work Block...
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       A Formulation of the Trilemma in Proof of Work Blockchain
        
       Author : bikenaga
       Score  : 31 points
       Date   : 2024-07-22 17:35 UTC (5 hours ago)
        
 (HTM) web link (ieeexplore.ieee.org)
 (TXT) w3m dump (ieeexplore.ieee.org)
        
       | throw0101d wrote:
       | Vitalik Buterin, one of Ethereum's co-founders, is credited with
       | this trilemma, and this (AFAICT) is where he first posted about
       | it:                   The trilemma claims that blockchain systems
       | can only at most have         two of the following three
       | properties:                * Decentralization (defined as the
       | system being able to run in a              scenario where each
       | participant only has access to O(c) resources,              i.e.
       | a regular laptop or small VPS)           * Scalability (defined
       | as being able to process O(n) > O(c) transactions)           *
       | Security (defined as being secure against attackers with up to
       | O(n) resources)                   In the rest of this document,
       | we'll continue using c to refer to the size          of
       | computational resources (including computation, bandwidth and
       | storage)          available to each node, and n to refer to the
       | size of the ecosystem in some          abstract sense; we assume
       | that transaction load, state size, and the market cap          of
       | a cryptocurrency are all proportional to n. The key challenge of
       | scalability          is finding a way to achieve all three at the
       | base layer.
       | 
       | * https://vitalik.eth.limo/general/2017/12/31/sharding_faq.htm...
        
         | wslh wrote:
         | The CAP theorem is a precursor of that, even if they are
         | different [1][2][3] and Micali from Algorand claims they solved
         | it (it is included in the original article).
         | 
         | [1]
         | https://www.reddit.com/r/kaspa/comments/18ieda0/there_is_a_f...
         | 
         | [2] https://dl.acm.org/doi/10.1145/3615871
         | 
         | [3] https://x.com/0xmert_/status/1748768344080023805?s=46
        
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