Paweł Sompoliński retweetledi
Kaspa is real-time bitcoin, solving scalability is great but not the core value prop.
Real-time bitcoin means achieving in a few seconds the same security guarantees that nakamoto consensus / bitcoin achieves after an hour; decentralizing each consensus round rather than chain quality achieved through a coarse aggregate of rounds.
A clean definition anchor for real-time decentralization (RTD): The ability to sample the honest majority in real-time.
(Note that even fast leaderless VRF-based proof-of-stake cant sample honestly bc the selected nodes get to choose the content of their blocks after they've been selected; pos=select then write, pow=write then select)
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RTD affects: txn confirmation, censorship resistance, secure oracle finality, MEV resistance.
Eg censorship resistance, bitcoin is the most censorship resistant chain, but if 60% of the miners are censoring you (point in reference: OFAC abiding tornado censoring eth miners), your txn will pend for 30-40 minutes. For shady business payments that's not prohibitive, but for a real economy, for an asset aspiring to be at least a king of collateral even if not an MoE, this is unacceptable, esp under economic stress.
Beyond censorship, all things finance benefit tremendously from pow density, from sampling the majority in real-time in a secure and honest manner.
I wont get into MEV resistance now, but having a "conscious" stream of oracle attestations (not price oracles) finalized in real-time qualitatively upgrades the ability to encode informed risk, collateral, liquidity management, which is the lifeblood of defi.
In context of conf times, increasing from 1 to 10bps saturates the latency optimization. But for pow density we need dozens of blocks per second, with the endgame of 100 bps: Under 10bps a 37% attacker can fake the majority signal with probability 12%. With 100bps this drops to 0.3%. Today Kaspa can't accelerate to >10bps w/o harming conf times, but DAGKNIGHT will be implemented hopefully by Q3 at least on testnet, by which we will push for 25-40bps.
The cherry on top: RTD also implies netsplit resistance, as per the partial synchrony framework.
WWIII cyberwar resistance. Hypothetically speaking ofc.
(elaborated- hashdag.medium.com/in-which-it-wa…)
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