Author: Luke-Jr 2013-12-31 01:14:05
Published on: 2013-12-31T01:14:05+00:00
In an email exchange between Peter Todd and Luke on December 30, 2013, Todd expressed concern over the use of merge-mining in altcoins. He argued that without majority or near-majority hashing power, an attacker could easily execute a 51% attack on the altcoin at negligible cost through reusing existing hashing power. However, Luke disagreed with Todd's point and stated that any non-scam altcoin is pretty safe using merged mining since it would be in the attacker's interest to invest in the altcoin rather than attacking it. The rational decision for a non-scam altcoin would be to take advantage of merged mining to get as much security as possible. Additionally, Luke mentioned that there are some tricks to get the full security of the bitcoin miners even when not all participate in the altcoin.
Updated on: 2023-06-07T23:09:03.849491+00:00