Hacker News new | past | comments | ask | show | jobs | submit login

Also on Hacker News right now is Escaping the Dark Web[1], about a coordinated effort to mint & publish some blocks without front-runners stealing all the work & claiming a big contract for themselves.

Leverage, control. There's some play for what term we use to define the imbalance of these systems. But it sure seems like large, amassed forces have enormous sway over many of these systems, to the point where they can act as they want & are incentivized to do so with other large malfeasants.

[1] https://samczsun.com/escaping-the-dark-forest/




> about a coordinated effort to mint & publish some blocks without front-runners stealing all the work & claiming a big contract for themselves.

Wow, I have no idea how you read that really awesome article and concluded with such a response as this.

The article demonstrates how the authors were able to collaborate with miners to safely secure $9M worth of tokens due to a security vulnerability in a smart contract on a public blockchain where anyone could figure out the vulnerability and execute it before they could secure the funds.

Being upset that a miner is able to pick transactions that they want to include in their block demonstrates a clear lack of knowledge in how these distributed databases (blockchains) work and any critique similar to this can be disregarded.


> Being upset that a miner is able to pick transactions that they want to include in their block demonstrates a clear lack of knowledge in how these distributed databases (blockchains) work and any critique similar to this can be disregarded.

I think me & the author both identified exactly how dangerous it is that large powerful forces in these pools can pick & choose which transactions they want to win.

The author had to go peer with others to make their own large coordinated/centralized pool to try to make sure they had some chance of winning.

Agreed that this was a public contract, & they managed to save the bacon via this coordination. But it's amazing how user-hostile it is trying to get anything done in these distributed environments. The power is enormously shifted to the hands of the large players. In many ways, a centrally managed but observable is a higher trust, higher security, more user-supporting system than these distributed systems.




Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: