Sam was listed as a participant at the WEF Annual meeting in Switzerland from May 22 to May 26. Me thinks his proposals somehow tie back to the dreaded and ominous CBDCs. It's all related somehow, someway.
For someone who's been so heavily involved in crypto as Sam, something's fishy in what he proposed.
The Time, Manner, Place, restrictions while permitting base layer code doesn't make any sense.
I'm more interested in the what he ignored/left out of the proposal. Ignorance before malice, but is it really as simple as pushing more volume towards CEX's, aka FTX?
> Even if some smart contract addresses are censored by a majority of validators, when a validator which does not censor gets to propose a block the transaction will be included.
... unless the majority of validators refuse to build on blocks that contain censored addresses (or are forced by law to refuse that).
Then we're in chainsplit-land and a fight of real decentralization vs. state-sanctioned 'decentralization'. It the latter should win, we can pack up and declare the experiment failed.
As mentioned on Twitter, DeFi needs a gold standard auditing company which provides a payout of white hat bounties for protocols it has audited. Hiring this company would be expensive since they would be incentivized to hire high quality auditors and would have to backstop the risk of paying bounties. It is likely protocol users would be happy to pay for a reduced chance of costly hacks though.
Going further, there could be a fixed additional gas fee to pay for the audits and/or bounties incorporated into the protocol itself. That would be interesting…portions of gas fees going into a visible fund for white hat bug bounties, similar to a progressive jackpot, providing a continuous visible, guaranteed and competitive incentive to attract white hats to analyze a protocol. More users -> more gas fees added to the bug bounty jackpot -> more incentive for white hats to find bugs. Successful protocols would naturally attract more white hat attention because the jackpot would be bigger.
Sam was listed as a participant at the WEF Annual meeting in Switzerland from May 22 to May 26. Me thinks his proposals somehow tie back to the dreaded and ominous CBDCs. It's all related somehow, someway.
Either way, good proposals listed Cartoon Anons.
For someone who's been so heavily involved in crypto as Sam, something's fishy in what he proposed.
The Time, Manner, Place, restrictions while permitting base layer code doesn't make any sense.
I'm more interested in the what he ignored/left out of the proposal. Ignorance before malice, but is it really as simple as pushing more volume towards CEX's, aka FTX?
> Even if some smart contract addresses are censored by a majority of validators, when a validator which does not censor gets to propose a block the transaction will be included.
... unless the majority of validators refuse to build on blocks that contain censored addresses (or are forced by law to refuse that).
Then we're in chainsplit-land and a fight of real decentralization vs. state-sanctioned 'decentralization'. It the latter should win, we can pack up and declare the experiment failed.
As mentioned on Twitter, DeFi needs a gold standard auditing company which provides a payout of white hat bounties for protocols it has audited. Hiring this company would be expensive since they would be incentivized to hire high quality auditors and would have to backstop the risk of paying bounties. It is likely protocol users would be happy to pay for a reduced chance of costly hacks though.
Going further, there could be a fixed additional gas fee to pay for the audits and/or bounties incorporated into the protocol itself. That would be interesting…portions of gas fees going into a visible fund for white hat bug bounties, similar to a progressive jackpot, providing a continuous visible, guaranteed and competitive incentive to attract white hats to analyze a protocol. More users -> more gas fees added to the bug bounty jackpot -> more incentive for white hats to find bugs. Successful protocols would naturally attract more white hat attention because the jackpot would be bigger.