tag:blogger.com,1999:blog-17908317.post4319656270164814457..comments2024-03-15T20:20:47.934-07:00Comments on Unenumerated: The dawn of trustworthy computingNick Szabohttp://www.blogger.com/profile/16820399856274245684noreply@blogger.comBlogger26125tag:blogger.com,1999:blog-17908317.post-50220026384402370202015-03-07T13:14:13.033-08:002015-03-07T13:14:13.033-08:00Please write more. I'm thirsty for more of thi...Please write more. I'm thirsty for more of this original stuff. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-17908317.post-44165520882182708192015-01-12T13:46:44.288-08:002015-01-12T13:46:44.288-08:00Post by eddie:
Although smart contracts are still...Post by eddie:<br /><br />Although smart contracts are still in their nascent stage, the potential is clear. If a simple enough user interface were developed it could remove a host of legal headaches, like updating your will. Imagine if allocating your assets after your death was as simple as moving an adjustable slider that determines who gets how much. Once the smart contract can verify the triggering condition--in this case, your death--the contract goes into effect and your assets are divvied up.<br /><br /><br />A smart contract can be activated, after which point it takes on a "life of its own", in the sense that it will process regularly over time according to its own internal terms and logic, until it expires or is deactivated. In this sense, it is like any other recurring OT transaction such as market trades and payment plans.<br /><br /><br />Smart contracts are most distinguished by the fact that they can have scriptable clauses. (Normally on OT, a typical contract only contains data tags, and human-readable clauses. Only the smart contracts "can come to life" with their own custom-scripted clauses.)<br /><br /><br />Smart contracts can have multiple parties, each with their own agents and asset accounts.<br /><br /><br />Only a select few functions are made available from within the script code of a smart contract, and all funds transfers go through this tightly-controlled interface, with notices and receipts sent to all relevant parties.<br /><br /><br />The script code is unable to manipulate any assets excepting those explicitly declared beforehand on the smart contract, and verified as valid property of a legitimate party to the contract. And when funds are moved, it's to a contract-specific name, not an account ID. For example, you wouldn't transfer funds from account pckjsdf9872345kj34kjhsf, but rather, by that account's name as declared in the contract, such as alice_petty_cash or bobs_acct. (This means that it's impossible to even reference any account other than those declared on the smart contract by name, since the functions provided can only operate based on those names.)<br /><br /><br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-17908317.post-85773434242807702532015-01-02T22:54:00.883-08:002015-01-02T22:54:00.883-08:00In the context of the movie theater and grocery st...In the context of the movie theater and grocery store example, I was about to say that Nick has been thinking about this for a long time. Then I googled it, and found <a href="http://szabo.best.vwh.net/accounting.html" rel="nofollow">this article from 1997</a>. <br /><br />The point is that at the movie theater, there's a paper trail showing how much money was received, and the cashier can't steal untraceably from the owners. Customers insist on getting a ticket in exchange for their money. And the ticket taker is separate to ensure that cashiers don't let their friends in for half price. <br /><br />At the grocery store, similarly, there's a cash register tracking every transaction. The owner encourages the customers to insist on receipts ("If I forget to give you a receipt, we'll refund half your money.") <br /><br />Institutions like these don't prevent someone from opening the till and running away with the funds, but they do make it evident if someone tries to skim 1% of the money over the long term.Chrishttps://www.blogger.com/profile/01960732711496740182noreply@blogger.comtag:blogger.com,1999:blog-17908317.post-25347549665283795952014-12-21T14:12:32.775-08:002014-12-21T14:12:32.775-08:00In your original 1994 paper on smart contracts, yo...In your original 1994 paper on smart contracts, you note the necessity of human intervention in case something goes wrong.<br /><br />It's entirely unclear to me how this is possible with a blockchain enforced by strong cryptography.<br /><br />The plot of Dr Strangelove is literally a smart contract going wrong and people's attempts to avert the preprogrammed outcome.<br /><br />Reddit post: http://www.reddit.com/r/Buttcoin/comments/2pzssy/in_what_world_are_smart_contracts_actually_a_good/David Gerardhttps://www.blogger.com/profile/13057086390864018760noreply@blogger.comtag:blogger.com,1999:blog-17908317.post-82403623419454675672014-12-21T04:48:33.893-08:002014-12-21T04:48:33.893-08:00Hi Nick,
As always great work. I really appreciat...Hi Nick,<br /><br />As always great work. I really appreciate the knowledge and information you make available to the common person like myself that doesn't always have easy access to highly guarded research and study findings.<br /><br />Also, great job on finally putting a name to some of the stuff we are dealing with on a daily basis. The "Virtual Computer" Blockchain reference is great.<br /><br />Respectfully,<br />L. DetweilerAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-17908317.post-18619681680436073992014-12-16T16:52:26.479-08:002014-12-16T16:52:26.479-08:00funny congruency in thought, i posted this around...funny congruency in thought, i posted this around the same time. great to see others thinking in this direction.<br /><br /><br />https://bitcointalk.org/index.php?topic=400235.msg9795832#msg9795832dominiksfhttps://www.blogger.com/profile/06678661491953418544noreply@blogger.comtag:blogger.com,1999:blog-17908317.post-51579580970981998692014-12-15T08:47:40.013-08:002014-12-15T08:47:40.013-08:00"You sort of lost me at the movie theater exa..."You sort of lost me at the movie theater example. You clearly never worked a retail job because employees steal stuff all the time. There's plenty of ways for insiders to steal credit card numbers or cash. And on the other end of things there's just straight up embezzling by the >>root<< accountants or managers."<br /><br />If i'm not mistaken Nick meant that in the theater you have your cash and assets at all times in your pockets, administrators won't see them unless you'll expose them willingly. <br /><br />The analogy of "root" administrator in a movie theater would be a deposit where you're required to store all your posessions before entering the projection room. Then the administrators would be free to copy, steal and destroy your posessions without your knowledge and there would be no way of stopping them. <br /><br />Anonymously,<br />Przemysław BagińskiAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-17908317.post-17109535525835494312014-12-13T12:49:02.020-08:002014-12-13T12:49:02.020-08:00This comment has been removed by the author.Donald McIntyrehttps://www.blogger.com/profile/03153421392606581139noreply@blogger.comtag:blogger.com,1999:blog-17908317.post-91900861338362848432014-12-12T14:52:27.352-08:002014-12-12T14:52:27.352-08:00"You sort of lost me at the movie theater exa..."You sort of lost me at the movie theater example. You clearly never worked a retail job because employees steal stuff all the time. There's plenty of ways for insiders to steal credit card numbers or cash. And on the other end of things there's just straight up embezzling by the "root" accountants or managers." <br /><br />I think the main point is not so much that. It's about the difference between a physical and a digital transaction. A physical/cash transaction is "secure" not in the sense that theft cannot happen -- but rather that the exchange is defined by physical reality. You hand over cash to the deli, theatre,food truck... and that's it. <br /><br />The cash left you undeniably. And the vendor knows that he received payment (I mean it's right there in the register, looks and feels like a real $20). And that's why you never once needed to fill out a form to do any of that. The cashier never had to know who the heck you were. The transaction was "secure".<br /><br />In the digital world, there is much more that needs to happen behind the scenes - because of the nature of what data is -- being digital -- itself. Even the swipe of a credit card involves an initial sign-up with Identification check and it goes through a complex processes of other checks and clearances, through various gateways and systems.<br /><br />The point is that there is no physical-like- "cash" equivalent that has existed. At least until now.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-17908317.post-73653858619149140342014-12-12T12:29:51.092-08:002014-12-12T12:29:51.092-08:00You sort of lost me at the movie theater example. ...You sort of lost me at the movie theater example. You clearly never worked a retail job because employees steal stuff all the time. There's plenty of ways for insiders to steal credit card numbers or cash. And on the other end of things there's just straight up embezzling by the "root" accountants or managers. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-17908317.post-87647356463942783742014-12-12T10:40:51.633-08:002014-12-12T10:40:51.633-08:00Could a Bitcoin hard fork solve this, eventually?Could a Bitcoin hard fork solve this, eventually?Alberthnoreply@blogger.comtag:blogger.com,1999:blog-17908317.post-37140776287567496072014-12-12T09:20:58.029-08:002014-12-12T09:20:58.029-08:00Nick: I humbly argue that effective "fiduciar...Nick: I humbly argue that effective "fiduciary code" and "smart contracts" will benefit from traditional legal analysis and legal draftsmanship. A skilled legal draftsman composes a better contract than someone who lacks the skill. I explain: http://hack-igations.blogspot.com/2014/11/ethereum.htmlBenjamin Wrighthttps://www.blogger.com/profile/11543639411820745571noreply@blogger.comtag:blogger.com,1999:blog-17908317.post-6718521096008301872014-12-11T22:26:15.070-08:002014-12-11T22:26:15.070-08:00>Block chains could also control hardware which...>Block chains could also control hardware which controls the function of and access to physical property.<br /><br />Imagine a blockchain that operated a printing press. This press could print codes on a special piece of paper. We could trade these pieces of paper to each other in return for goods and services.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-17908317.post-38701472064591623592014-12-11T20:41:00.091-08:002014-12-11T20:41:00.091-08:00This comment has been removed by the author.Jeff McDonaldhttps://www.blogger.com/profile/04435417871477980255noreply@blogger.comtag:blogger.com,1999:blog-17908317.post-22534201292158403652014-12-11T17:23:40.432-08:002014-12-11T17:23:40.432-08:00What do you think of Codius (codius.org)? -- seems...What do you think of Codius (codius.org)? -- seems to address the cost and speed drawbacks of the blockchain's set amount of redundancyAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-17908317.post-5595893814624464692014-12-11T17:05:08.721-08:002014-12-11T17:05:08.721-08:00Reminds me of this. http://www.loper-os.org/?p=149...Reminds me of this. http://www.loper-os.org/?p=1490Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-17908317.post-43182973735327349762014-12-11T15:23:32.009-08:002014-12-11T15:23:32.009-08:00This comment has been removed by the author.Markhttps://www.blogger.com/profile/15423095026354723940noreply@blogger.comtag:blogger.com,1999:blog-17908317.post-84748718392778689842014-12-11T15:04:17.078-08:002014-12-11T15:04:17.078-08:00Another great read from Nick Szabo, or is it Satos...Another great read from Nick Szabo, or is it Satoshi Nakamoto?nullnoreply@blogger.comtag:blogger.com,1999:blog-17908317.post-12157695197998392072014-12-11T14:40:19.212-08:002014-12-11T14:40:19.212-08:00Hi Nick,
You might be interested in checking out ...Hi Nick,<br /><br />You might be interested in checking out our cryptocurrency platform, Qointum. We have smart contracts scripted in Python that are far more flexible and natural looking than what other platforms provide. Other platforms ended up with contorted designs because they entirely missed the concept of conserved transferable asset objects and code access specifiers. Other platforms are also missing a natural language for multi-chain smart contracts which allow us to scale up across the web.<br /><br />You mentioned the cost to run these blockchain computers is high, not so with Qointum. We are the first to have a new proof-of-stake algorithm (rather than proof-of-work mining which wastes electricity) that scales from a single stake holder to thousands, while also allowing consensus from block headers only (without examining transactions), which lets us go multi-chain using Simplified State Verification (SSV).Qointumhttps://qointum.comnoreply@blogger.comtag:blogger.com,1999:blog-17908317.post-17854465335733844502014-12-11T13:51:29.397-08:002014-12-11T13:51:29.397-08:00I love reading your blogs Nick.
Stay up baby!I love reading your blogs Nick. <br />Stay up baby!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-17908317.post-47778362358710181682014-12-11T13:18:22.670-08:002014-12-11T13:18:22.670-08:00Another great essay, and I specifically like the e...Another great essay, and I specifically like the elaboration on the misconception between "decentralized" vs "Nakamoto consensus". Still, centralized authorities do cause a lot of harm to societies in many cases, and in most of those cases decentralization is a better option imo.<br /><br />Nakamoto consensus is preferable, but only applicable to cases wherein everyone has to agree on one specific thing. If that thing is subjective to each party involved, thus highly relative and can't be solved by means of Nakamoto consensus (i.e., trust among humans), it's not the case. <br /><br />In that case, decentralized (or even distributed) peer-to-peer networks can still offer better solutions to the problems that are being caused by centralized authorities. Still, making sure that only the owner has access to his/her property remains essential, at any given moment, through strong cryptography.<br /><br />One solution to solving subjective trust among individual parties can be the whitelisting principle (i.e., how humans tend to trust each other), which is of course still less secure than Nakamoto consensus. Since Nakamoto consensus can not be applied in these matters, whitelisting solutions are probably the best-effort to follow.Tim Pastoorhttp://identifi.orgnoreply@blogger.comtag:blogger.com,1999:blog-17908317.post-27929813076739183762014-12-11T12:46:58.658-08:002014-12-11T12:46:58.658-08:00Wonderful essay.
Does this change how you feel ab...Wonderful essay. <br />Does this change how you feel about futarchy? <br />https://github.com/psztorc/TruthcoinAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-17908317.post-82084318698151462162014-12-11T12:16:23.528-08:002014-12-11T12:16:23.528-08:00in case the other post doesn't post is the bas...in case the other post doesn't post is the basic take away that accountability is becoming a commodity at least should anyone know how to decipher that which is indicative of the actions requiring or creating accountability?Richardhttps://www.blogger.com/profile/18242797331927628174noreply@blogger.comtag:blogger.com,1999:blog-17908317.post-21978127562218320312014-12-11T11:33:27.342-08:002014-12-11T11:33:27.342-08:00Double space after the first use of "Nakamoto...Double space after the first use of "Nakamoto"! hmm, fishy...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-17908317.post-91476451096649612302014-12-11T10:57:07.777-08:002014-12-11T10:57:07.777-08:00"deveptively" I think you meant "de..."deveptively" I think you meant "deceptively" <br />Anonymousnoreply@blogger.com