Author: Peter Todd 2014-04-24 15:03:37
Published on: 2014-04-24T15:03:37+00:00
The discussion is about the enforcement of widespread censorship rules and the mechanism for it. Christophe Biocca argues that coinbase confiscations are a worse mechanism for enforcement than orphaning because they lose their power when the transaction miners are punished, while orphaning can build up over time without losing its usefulness. However, Peter Todd disagrees and asserts that the initial stages of enforcing censorship rules with coinbase blacklists/confiscation are much easier because it's a voting mechanism. He explains that a 10% pool that has been forced to blacklist certain transactions can vote to blacklist blocks that do not abide by that blacklist and casting that vote does them no harm. The process happens smoothly, letting the blacklist be applied safely and easily. Decentralized markets are given as an example of time-sensitive transactions that need to be confirmed now or soon, or they become worthless. The discussion also touches on the problem of proving a Finney attack happened to a third-party, making it easy to attack smaller miners with Sybil attacks and using that as an excuse to punish them.
Updated on: 2023-06-08T20:52:51.828237+00:00