HashFast Technologies to Reorganize Under Chapter 11 ...

Rethinking Large-Scale Consensus

Cryptology ePrint Archive: Report 2018/302
Date: 2018-03-29
Author(s): Rafael Pass, Elaine Shi

Link to Paper

In this position paper, we initiate a systematic treatment of reaching consensus in a permissionless network. We prove several simple but hopefully insightful lower bounds that demonstrate exactly why reaching consensus in a permissionless setting is fundamentally more difficult than the classical, permissioned setting. We then present a simplified proof of Nakamoto's blockchain which we recommend for pedagogical purposes. Finally, we survey recent results including how to avoid well-known painpoints in permissionless consensus, and how to apply core ideas behind blockchains to solve consensus in the classical, permissioned setting and meanwhile achieve new properties that are not attained by classical approaches.

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In the interim Simon Barber is President and CTO, and Monica Hushen, who recently joined as CFO is handling business operations and bankruptcy matters. HashFast has retained Katten Muchin Rosenman LLP as its bankruptcy counsel, and we will be working together to generate a reorganization plan that will allow us to emerge from bankruptcy as quickly as possible. We will be sharing more specific ... Barber studied Bitcoin as a lead researcher at Xerox’s Palo Alto Research Center before cofounding HashFast. The Golden Nonce was one of the first mining chips to use 28-nanometer circuits, the smallest then in production. Austin, Tex.-based CoinTerra, which claims its 28-nanometer chips account for more than 6 percent of the Bitcoin network’s computation capacity, is readying the next big ... A bitcoin investment scheme called "Bitcoin Revolution South Africa" has been gaining much attention lately. Promoters claim that famous South Africans endorse this platform, including mining ... The Bitcoin has emerged as a fascinating phenomenon in the Financial markets. Without any central authority issuing the currency, the Bitcoin has been associated with controversy ever since its popularity, accompanied by increased public interest, reached high levels. Here, we contribute to the discussion by examining the potential drivers of Bitcoin prices, ranging from fundamental sources to ... Morici, thereby, sued HashFast’s CEO Eduardo deCastro and chief technology officer Simon Barber, in January 2014, alleging breach of contract and fraud. Another amended complaint was also filed in February 2015, in reply to which the defendants filed a motion of dismissal, saying that the plaintiff had failed to provide enough evidences to prove fraud. Bitcoin Fraud Unproved. US District ...

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