Author: Jorge Timón 2014-01-10 12:37:26
Published on: 2014-01-10T12:37:26+00:00
On 1/10/14, Peter Todd wrote about the situation with the new Twister P2P Microblogging thing that has a blockchain for registering usernames. He said that this could have been easily done with Namecoin which means that Namecoin owners have an incentive to make sure the Twister blockchain gets killed at birth. However, merging mining could be a solution. If they start with SHA256, then merged mining is a trivial fork that has been successfully done by at least 3 currencies. They plan to make Freicoin merge-mineable in the future and they expect to get much more security after they do. The only adverse effect may be a temporary drop in price due to the new miners selling all the frc they get until a new price equilibrates with the demand. But that's not really bad for the currency, just to the holders at that moment.Peter also mentioned that it is pretty easy to attack the Twister blockchain right now as the hashing power behind it is minuscule and probably will stay that way. The only incentive to mining is that you get the right to make a "promoted post" called a spam message in the codebase that in theory Twister clients are supposed to show to their users. However, there's absolutely no way to guarantee that clients actually do that.He concluded by saying that if a system doesn't compensate its miners in a liquid enough way, the system will probably be insecure, but that's another topic.
Updated on: 2023-06-07T23:18:08.695461+00:00