jamesd at jamesd at
Mon May 25 18:35:37 PDT 2020

On 2020-05-26 08:41, other.arkitech wrote:
> The unbloated trait is present as well. There is no history to carry on with it acting like an elastic gum (time to sync a new node for instance).
> The verification taking place to calculate the next state
> is enough to trust on the state. There is no need to
> validate the history from the genesis to trust the last state.
> The truth starts there, on the last block.

This creates the opportunity to inject a fake history with no past 
through a 51% attack.

When there are many transactions, the computers constructing the final 
consensus hash of the final block, which testifies to the entire 
immutable consensus past, are necessarily rather few, rather large, and 
owned by a rather small number of rather wealthy people.

Too keep them honest, need a widely distributed history of at least the 
past few weeks.

We need a large number of people making sure, and able to make sure, 
that the history is consistent from day to day, not just from block to 

We need a system where if one party is persistently unable to get hold 
of the the transaction justifying unspent transaction output number five 
million and seven in the block that is a day or so behind the current 
block, the panic button automatically goes off.

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