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#OverProtocol
#Decentralization
I believe that the value a new blockchain must demonstrate is the relentless effort to survive.
To become a protocol capable of accommodating numerous future usages, nothing can be compromised.
I really like the approach of
@eigenlayer
Progress can happen one step at a time. Whatโs important is recognizing the risks and making efforts to resolve them.
Close collaboration among teams with the same goals, and the communityโs faith and trust, will be the driving force
Can you launch an AVS on
@eigenlayer
without slashing?
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Thanks
@KyleSamani
for initiating this conversation.
It is not necessary to have slashing built on day 1 to launch an AVS. Most teams will prioritize building user facing features before building trust features.
Infrastructure companies are the unsung heroes of the blockchain world ๐. But a total reliance on them? Thatโs where we need to draw the line. ๐ซ
1/10: Onchain delegation enables a form of indirect democracy, allowing blockchain participants to conveniently participate indirectly in consensus.
#blockchain
#consensus
#delegation
[The Small Superminority Problem on PoS]
1 / Proof-of-Stake(PoS) consensus algorithms are designed to overcome the malfunctioning of more than 1/3 of validators.
The brutal truth about protocol design:
Always preparing for the worst-case scenario.
You gotta embrace your inner pessimist, even a doomsday theorist.
Within the next 10 years, blockchain will need to prepare for quantum computing.
Within the next 100 years, blockchain will need to prepare for the era of space exploration.
I found a great product that visually shows superminority problems. Check out Solana Beach, Solanaโs Explorer app ๐ย
@solanabeach_io
@overnetworks
9/10: What if, when a slashing event occurs, delegators lose only 1-5% and only the validator loses 50%? Validators would delegate all but the minimum required amount to minimize risk. But, this still doesn't impose full accountability on validators.
9 / Protocol architects should think of designs that bring economic incentives to the increase of superminority, and speak with the community to deliver the importance of this issue.
5 / In the case of Cosmos Hub, the top 7 validators(4%) form the superminority. For Solana, the top 30 validators(1.4%) do. In Ethereum PoS, 2 entities (Lido, Coinbase) form a superminorty by controlling 46% of the total staked ETH, according to Nansen.
@andreacip19
@osteen254
@overprotocol
It is designed to exit on a weekly basis if full node operation is completely stopped. If it maintains uptime above the threshold, such events should not occur, but if it falls below the threshold, the score will gradually accumulate, and ultimately, it will exit.
Again, this
4 / Although most times economic security protects the chain from disability, the distributed networkโs stability, and the consensusโs performance greatly depend on superminority.
8 / We cannot solve the small superminority problem by only relying on some enthusiastic โdecentralization loversโ who would participate in staking.
3 / Here we call the smallest number of validators with more than 1/3 of the total stake a superminority. Superminority could anytime hinder consensus within the chain.
6 / These metrics indicate that many PoS chainsโ performance depends on a small group of entities, with or without the on-chain delegation feature. With on-chain delegation, it is easier to track superminority.