Author: Bryan Bishop 2017-04-06 12:11:35
Published on: 2017-04-06T12:11:35+00:00
In a discussion on the Bitcoin Developers mailing list, Luv Khemani asked why ASICBOOST was considered an attack. Gregory Maxwell responded by stating that it is "an attack" because it significantly reduces the amount of work required to prove a certain amount of work has been done in Bitcoin's Proof of Work. Maxwell further explained that normally this wouldn't be a serious attack, but because it is in covert form, it blocks many proposed improvements and the licensing restrictions inhibit adoption. Maxwell also clarified that his proposal does not prevent the technique of ASICBOOST, only its covert use that interferes with upgrades. He stated that ignoring the technical definition of 'attack', there are issues that need to be addressed, which if left unresolved would seriously harm the system for the monetary benefit of an exploiting party.
Updated on: 2023-06-11T23:40:35.328319+00:00