Blockchain systems ought to be measured objectively



Blockchain  like any other system is only as secure as the assumptions upon which it is based. When we look at different Blockchain architectures ( and there are lots coming out onto the market) we would do well to recognise this fact and compare  them against these objective criteria       

 The problem is  "trust" is a normative concept - you can't  put it in a wheelbarrow . Trust is hard won and easily lost...one rogue transaction and individual "trust" in the system  built up over years can be destroyed  almost overnight.  If we view all blockchains as "trustworthy" .... as "trust machines" we sadly miss the point. The question is how trustworthy? 

 "Security"  in contrast to "trust" can be measured objectively - You can statistically  say from a security perspective that 70%  ( 50% or 80% whatever) of all of nodes in a given system need to be fully functioning to maintain  a given consensus protocol.   You can measure how many nodes can crash / or become malicious   before the "consensus" is undependable. Every system has a set of  implicit assumptions about what it can and can't stand before consensus becomes dodgy 

 Cachin and Vukolie from IBM  in their recently published  and excellent white paper " Blockchain Protocols in the Wild" apply the following  criteria to assess different consensus  protocols
1- Dependability :  how available and reliable is it?
2- Resilience; what is the ability of  one node of a set of nodes  crashing a significant proportion of the system?
3- Secure: how good is the encryption against the perceived threats?
4- Safety: Will the protocols reach agreement ( consensus) no matter how the network works? 
5- Live:  Are messages continuously developed, transactions ordered and validated no matter how the network works? 

 Assessing how secure one protocol  is over another will no doubt become ever more -popular  in the years ahead as ( dare I say it) will become the realisation that current systems are probably (and sadly) a lot more vulnerable  than we would like!  . 

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