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Ripple's consensus algorithm.

Dnia poniedziaÅ?ek, 11 sierpnia 2014 08:42:20 James A. Donald pisze:
> Bitcoin's consensus algorithm is weight of computing power, which is OK
> as long as weight of computing power aligns with interest in bitcoin
> being a useful currency.

Aye.

> Weight of stake would be better, but so far I am unaware of any
> satisfactory proposals for weight of stake.

Aye².

> Ripples consensus algorithm is weight of club members, and the process
> for getting into the club is opaque, as are the interests and incentives
> of the existing club members.

Aye³.

> I would suppose one gets into the club if no existing member blackballs
> you, which would be fine if there is already sufficient diversity of
> interests within the club.

If the rule is "you can get in as long as nobody blackballs you", the more 
members and the more diversity there is "in", the larger chance you will get 
blackballed.

Which means, the more members, the harder to get in.

> It is not obvious to me how well the ripple consensus algorithm would
> work in the event of substantial conflicts between club members, or bad
> behavior by club members, or bad things happening to the network.
>
> Has it been analyzed for performance in the event of bad behavior by
> some club members?

Good question.

-- 
Pozdr
rysiek
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