Author: Paul Sztorc 2017-12-05 18:05:39
Published on: 2017-12-05T18:05:39+00:00
The email conversation between Chris Pacia and Paul discusses the security model of sidechains, the marginal cost of casting a malicious vote and the repercussions of fraudulent withdrawals. The marginal cost of creating a bad vote is the same as creating a good one, which means there is no way to differentiate a bad block/vote from a good one. The repercussions of a fraudulent withdrawal include the loss of victim-sidechain future tx-fees, all future tx fees on all sidechains and the change of Bitcoin super-network from a "sidechain enabled" network to a "sidechain disabled" network. The impact of these repercussions is uncertain and can be small or large. The useless sidechain fallacy is discussed, in which people believe that because they think the sidechain is useless, therefore everyone must believe as they do. There is also a collective action problem inherent to fraudulent withdrawals. The effort required to initiate the negotiation is the source of the collective action problem here. In this case, the security of a drivechain cannot be likened to that of the mainchain.
Updated on: 2023-06-12T22:32:16.045021+00:00