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Welcome to our Subspace Network Video!

Secure, Scalable, Decentralized
Subspace is the first protocol to fully resolve the blockchain trilemma
without making compromises.

In an effort to make blockchains more energy-efficient, egalitarian, and decentralized, several new protocols employ consensus based on Proofs-of-Capacity (PoC), which replace compute-intensive mining with storage-intensive farming. We observe that PoC consensus introduces a unique mechanism design challenge, referred to as the farmer’s dilemma, which suggests that existing constructions are not actually incentive compatible.

Simply put, farmers must decide whether to allocate scarce storage resources towards either maintaining the chain state and history or maximizing the amount of space they pledge towards consensus. Rational farmers will always choose the latter, at best becoming light clients, while at worst encouraging pooled farming under a few trusted operators. To resolve this dilemma, we introduce Subspace, a PoC blockchain in which farmers maintain neither the state nor the history, while retaining the security properties and decentralization benefits of a full node.

Consensus in Subspace is based on proofs of replicated storage of the history of the blockchain itself. Farmers store the history collectively, many times over, with each farmer storing as many replicas as their disk space allows. Consensus and computation are then decoupled, such that farmers only propose an ordering for transactions, while staked executor nodes maintain the state and compute transitions.

Secure & Sustainable Consensus
Proof-of-Archival-Storage (PoAS) consensus maintains the honest majority assumption and permissionless nature of Nakamoto consensus without the massive electricity cost of mining.

Fully Decentralized
Decoupled execution keeps farming lightweight and resistant to pooling, while the farmer storage network allows the blockchain to “bloat” massively without becoming centralized.

Composite Scaling
Block decoupling and data-availability sampling allow for vertical scaling, while our unique separation of consensus and computation provide for horizontal scaling at log(n) overhead to executors.

THE BLOCKCHAIN TRILEMMA
The blockchain trilemma is a term coined by Vitalik Buterin to describe the challenges of creating a secure, scalable and decentralized blockchain.

Security means retaining safety and liveness for up to a one-half adversarial fraction of nodes (the honest majority assumption).

Decentralization means keeping the compute, storage, and network resources low enough for anyone to run a node on their laptop.

Scalability means transaction throughput should increase as more users join the network and as their computer hardware improves.

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The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.

I hope you found value in our Subspace Network video. Make sure to leave a like on the video if you gained value from it!

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⏰Timestamps⏰

0:00 intro
0:20 Subspace.network
6:02 Twitter
6:34 Summary

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