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<p>Created page with &quot;==Notes== &lt;pre&gt; Lecture 21 ---------- Ethereum security - what do you think? Yeah, it isn&#039;t great So, do you trust this enough to put your entire economic future into this...&quot;</p> <p><b>New page</b></p><div>==Notes==<br /> <br /> &lt;pre&gt;<br /> Lecture 21<br /> ----------<br /> <br /> Ethereum security - what do you think?<br /> <br /> Yeah, it isn&#039;t great<br /> <br /> So, do you trust this enough to put your entire economic future into this sort of technology?<br /> <br /> The problem isn&#039;t that Ethereum couldn&#039;t be made more secure<br /> - it just can&#039;t be made as secure as it would need to be to<br /> trust it as people are saying we should trust it<br /> - it just can&#039;t be fixed on the fly like other systems<br /> - requires too much buy-in<br /> <br /> The key thing about trusted third parties is they are accountable<br /> - if anything, within a political system<br /> <br /> Blockchains are potentially revolutionary<br /> - just not with proof of work<br /> - has to be proof of stake or, better, some trusted third party<br /> - they can fix the blockchain when it messes up<br /> - and because it is public, there can be accountability<br /> <br /> Why are blockchains at all interesting?<br /> - in finance, traditionally everything is kept secret<br /> - only privileged entities get to see what&#039;s going on<br /> - but with blockchains, money flows are public<br /> - we don&#039;t know who, but we know how much and how fast<br /> - and we can de-anonymize selectively as necessary<br /> &lt;/pre&gt;</div>

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