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[209.85.215.47]) by smtp.gmail.com with ESMTPSA id r84sm1513582lff.72.2018.01.21.07.29.27 for <bitcoin-dev@lists.linuxfoundation.org> (version=TLS1_2 cipher=ECDHE-RSA-AES128-GCM-SHA256 bits=128/128); Sun, 21 Jan 2018 07:29:28 -0800 (PST) Received: by mail-lf0-f47.google.com with SMTP id q194so7551962lfe.13 for <bitcoin-dev@lists.linuxfoundation.org>; Sun, 21 Jan 2018 07:29:27 -0800 (PST) X-Received: by 10.46.66.5 with SMTP id p5mr2225985lja.3.1516548567350; Sun, 21 Jan 2018 07:29:27 -0800 (PST) MIME-Version: 1.0 Received: by 10.25.39.147 with HTTP; Sun, 21 Jan 2018 07:29:26 -0800 (PST) In-Reply-To: <CAKaEYhJHZ_CFeqRN_QXP-SLX+AHmbRPTx+w=D3920Fc-WPq_1A@mail.gmail.com> References: <58fa85b8-cba3-ee34-8c96-41c6c7bfbf9c@gmail.com> <CAKaEYhJHZ_CFeqRN_QXP-SLX+AHmbRPTx+w=D3920Fc-WPq_1A@mail.gmail.com> From: Glen Peterson <glen@organicdesign.org> Date: Sun, 21 Jan 2018 10:29:26 -0500 X-Gmail-Original-Message-ID: <CA+LnoU=OoUaCwV_HrLdZUx4yHY4M0TDE45tefhF08b8PrO5VBw@mail.gmail.com> Message-ID: <CA+LnoU=OoUaCwV_HrLdZUx4yHY4M0TDE45tefhF08b8PrO5VBw@mail.gmail.com> To: Bitcoin Protocol Discussion <bitcoin-dev@lists.linuxfoundation.org> Content-Type: text/plain; charset="UTF-8" X-Spam-Status: No, score=-1.9 required=5.0 tests=BAYES_00,DKIM_SIGNED, DKIM_VALID,RCVD_IN_DNSWL_NONE autolearn=ham version=3.3.1 X-Spam-Checker-Version: SpamAssassin 3.3.1 (2010-03-16) on smtp1.linux-foundation.org X-Mailman-Approved-At: Sun, 21 Jan 2018 15:36:25 +0000 Subject: Re: [bitcoin-dev] Upgrading PoW algorithm X-BeenThere: bitcoin-dev@lists.linuxfoundation.org X-Mailman-Version: 2.1.12 Precedence: list List-Id: Bitcoin Protocol Discussion <bitcoin-dev.lists.linuxfoundation.org> List-Unsubscribe: <https://lists.linuxfoundation.org/mailman/options/bitcoin-dev>, <mailto:bitcoin-dev-request@lists.linuxfoundation.org?subject=unsubscribe> List-Archive: <http://lists.linuxfoundation.org/pipermail/bitcoin-dev/> List-Post: <mailto:bitcoin-dev@lists.linuxfoundation.org> List-Help: <mailto:bitcoin-dev-request@lists.linuxfoundation.org?subject=help> List-Subscribe: <https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev>, <mailto:bitcoin-dev-request@lists.linuxfoundation.org?subject=subscribe> X-List-Received-Date: Sun, 21 Jan 2018 15:29:33 -0000 Popular hashing algorithms have historically managed 10-15 years of intense use before flaws are found in the algorithm. This chart suggests SHA-256 is already aging: http://valerieaurora.org/hash.html If history is any guide, any long-term cryptocurrency/blockchain will need the cryptography updated every decade or so. On Sat, Jan 20, 2018 at 1:36 PM, Melvin Carvalho via bitcoin-dev <bitcoin-dev@lists.linuxfoundation.org> wrote: > > > On 17 January 2018 at 23:31, Jefferson Carpenter via bitcoin-dev > <bitcoin-dev@lists.linuxfoundation.org> wrote: >> >> Bitcoin's difficulty will be maxed out within about 400 years, by Moore's >> law. (After that - supposing the software does not crash when difficulty >> overflows - block time will start decreasing, and it will not take long >> before blocks are mined faster than photons can be sent across the planet). >> >> Bitcoin is the dominant cryptocurrency today, as the first mover: the >> perfectly fair worldwide game of inventing the cryptocurrency has been >> played and won. However, unfortunately, it has a built-in end date: about >> 400 years from now. After that, it won't necessarily be clear what the >> dominant cryptocurrency is. It might be a lot like VHS vs Betamax, and a >> lot of people could lose a lot of money. It seems to me, this could be >> mitigated by planning today for what we are going to do when Bitcoin finally >> breaks 400 years from now. >> >> Are there any distinct plans today for migrating to a PoW supporting an >> even higher difficulty? > > > Crypto algorithms have a lifetime, and consensus is no different. > > Is it likely to be more than a few years? Yes. > > Is likely to be less than a few hundred years. Yes. > > Every algorithm involves trade offs and it's the job of a thoughtful dev > team to examine those trade offs and come to a consensus optimal solution. > > This field is only 9 years old, and there is a large amount of R & D in this > area. So we can evaluate what seems to working better and what seems to be > working worse, transfer that to BIPs, create code, test it, try to achieve > consensus. The normal path that has served free software projects well. > >> >> _______________________________________________ >> bitcoin-dev mailing list >> bitcoin-dev@lists.linuxfoundation.org >> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev > > > > _______________________________________________ > bitcoin-dev mailing list > bitcoin-dev@lists.linuxfoundation.org > https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev > -- Glen K. Peterson (828) 393-0081