I like a lot of the work the NIST does but their cryptocurrency related work is quite a mixed bag. I like that they talk about the "nothing at stake" problem with PoS. I wish they would talk at all about the inherent inefficiency of blockchains and the superior traditional solutions that exist for many permissioned blockchains. They touch very briefly on the fact that blockchains aren't inherently immutable but do little to describe where the properties of immutability come from or the nash equilibrium that keeps all security actors, not just miners, working together. They don't discuss near enough the economic security model and its consequences.
My ideal NIST document would strongly discourage the use of permissioned blockchains that do not themselves resolve to an adequately secured permissionless blockchain, and delve deeper into the decentralized security models security actors including network participants and the incentives which drive them. Some talk of layered blockchain solutions like drivechains and sidechains and most importantly off chain solutions would go a long way too.
3 building collapsing at near free fall speed along the path of highest resistance, symmetrically, on the same day, with rocks exploding and fizzling into dust in mid air. NIST need to go back to basics and learn the laws of energy conservation before trying to figure out how pow blockchain works.
And a hole in a field with much less wreckage than plausible, confiscated footage of the pentagon plane that was never released, molten metal for weeks after the collapse, firefighters in stairwell b who survived a 100 story building falling ontop of them.
The whole thing is confusing as fuck
True, but this is NIST, who is charged with providing guidance to U.S. government agencies and other related entities. Their documents also go through a strong review and public comment process. So when they come out with documents like this they are often more detailed and useful than documents that have not had this kind of review process.