Author: Luke-Jr 2012-06-04 02:04:55
Published on: 2012-06-04T02:04:55+00:00
In a discussion regarding the potential for an attacker to spend their hashes attacking a blockchain pool, Peter Vessenes suggests that whether or not it is worth it depends on the pool's reward scheme. In some cases, an attacker could receive "bonus" earnings from the pool, but at a minimum the attacker would gain the benefit of harming the pool. Vessenes argues that waiting until there is real pain caused by these attacks is not wise, as it could result in a painful fork of the blockchain. Instead, he suggests planning for a solution 1-2 years in advance so users have time to upgrade before the problem becomes too severe. Finally, Vessenes notes that attackers could potentially hurt the pool's "luck factor" with this type of attack, while also spending the bitcoins earned to bribe users away from the targeted pool.
Updated on: 2023-06-06T04:53:22.706295+00:00