Vitalik Buterin Proposes a Consensus Algorithm That Requires Only 1% to Be Honest
https://twitter.com/VitalikButerin/status/1027972126593015809?s=20I did NOT invent 99% fault tolerant consensus; Leslie Lamport did. I just wrote an explainer and adapted it to a blockchain context. Please fix, Trustnodes.
This has been known a long time; Leslie Lamports famous 1982 paper The Byzantine Generals Problem (link here) contains a description of the algorithm. The following will be my attempt to describe and reformulate the algorithm in a simplified form.
Does this mean 99% POW is useless?