Author: Peter Todd 2013-12-30 23:22:25
Published on: 2013-12-30T23:22:25+00:00
In December 2013, a startup led by Evan Duffield was looking for one or two skilled C++ programmers familiar with bitcoin internals to help with a for-profit project. The startup promised to reveal more information about the project after signing a non-compete/non-disclosure agreement. The project would involve merging mine altcoin that provides a useful service to the crypto-coin ecosystem. However, Peter Todd, an expert in the field, cautions against the use of merge mining due to the possibility of an attacker using existing hashing power to execute a 51% attack at negligible cost. He suggests hiring someone competent to analyze the idea and emphasize starting a timestamping service as a possible exception to his warning. Although he is willing to speak informally in private, he is unwilling to agree to any non-compete/nondisclosure terms.
Updated on: 2023-06-07T23:08:50.548647+00:00