Author: Peter Todd 2014-01-01 05:25:14
Published on: 2014-01-01T05:25:14+00:00
In a Bitcoin-wizards mailing list, a member posited that an altcoin tied directly to Bitcoin proof-of-work would be immune to a 51% attack. However, another member disagreed, stating that tying the alt-coin difficulty to the Bitcoin difficulty would not avoid a 51% attack because attackers could mine a conflicting chain and there is no reasonable way to choose between the two chains other than proof-of-something. The only way to solve double-spending with proof-of-publication is through some sort of mathematically verifiable majority aligned with the interests of the crypto-coin users. A solution was proposed last summer but could only make it clear that an attack was happening and how many bitcoins needed to be sacrificed to make the chain secure.
Updated on: 2023-06-07T23:19:55.370879+00:00