Author: Peter Todd 2014-01-10 11:25:42
Published on: 2014-01-10T11:25:42+00:00
In a discussion about the security of independent vs. merged-mined altcoins, Peter Todd brings up the scenario of decentralized consensus systems competing for market share. He uses the example of creating a competitor to Namecoin, where Namecoin miners might attack the new blockchain to protect their own interests and investments. Todd then brings up Twister, a P2P microblogging platform that has created its own blockchain for registering usernames. He suggests that since this could have been done with Namecoin instead, Namecoin owners may have an incentive to kill off the Twister blockchain. However, with Twister's current small hashing power and lack of incentive to mine other than the ability to make a "promoted post," it would be easy for Namecoin miners to destroy the Twister blockchain.
Updated on: 2023-06-07T23:19:29.338515+00:00