Author: Peter Todd 2014-01-06 15:44:56
Published on: 2014-01-06T15:44:56+00:00
In a discussion about the security of merge-mining, Jorge Timón expresses his doubts about the proof-of-sacrifice as a security mechanism and the viability of proof-of-sacrificed-zerocoins. He then argues that Namecoin has better security than Litecoin despite having lower rewards for miners and asks for an economic discussion on the topic. Peter Todd responds by saying that while merge-mining is insecure, regular mining is not much better either as it assumes all miners act rationally and have equal opportunities, which he strongly doubts. He emphasizes that stuffing data into the Bitcoin blockchain comes with orders of magnitude better security against reorganization attacks and is just as secure as Bitcoin itself. Lastly, Todd apologizes for his harsh tone in a previous message and expresses his eagerness to read Timón's post on BIP32-ish payment protocol, bloom filters, and prefix filters.
Updated on: 2023-06-07T23:19:00.351040+00:00