Author: Jorge Timón 2014-01-04 00:27:42
Published on: 2014-01-04T00:27:42+00:00
In this conversation, Peter Todd and Jorge Timón discuss the profitability of mining a cryptocurrency and the security mechanisms in merged mining. Todd argues that it is not always profitable to mine a crypto-coin, especially if there are legal barriers or competing implementations of the same idea. He provides a thought experiment on how to make a zerocoin alt-chain and explains how Mastercoin could be used as an example of a merge-mined version. Timón questions Todd's proof of sacrifice as a security mechanism and asks for more discussion on the economics of merged mining. They then have a discussion on the security of merged mining and Todd provides an example of currencies A, B, C, and D, with different rewards for miners. Todd concludes that attacking D is cheaper than attacking C and Timón is eager to read Todd's post on BIP32-ish payment protocol, bloom filters, and prefix filters.
Updated on: 2023-06-07T23:17:29.973083+00:00