Author: Eric Voskuil 2021-03-02 20:19:41
Published on: 2021-03-02T20:19:41+00:00
The term "51% attack" is commonly used to refer to a majority censor, but some argue that the term is better reserved for stealing from someone using hash power. The term helps people understand the mechanism of hash power soft fork enforcement. However, referring to miners enforcing rules without social support as a 51% attack confuses the actual behavior and implies that the mechanism is somehow different because of an ill-defined level of agreement. Ariel Lorenzo-Luaces suggested that LOT=false has a clear advantage in that it can happen without the need for a social movement, only requiring the convincing of 95% of miners. Apathetic users would not notice any disruption regardless of the success or failure of the activation. On the other hand, LOT=true requires being able to 51% the blockchain to win apathetic users, which could be disruptive if miners choose to create an invalid chain. However, Luke Dashjr argues that LOT=True does not necessarily result in this scenario and that miners could create an invalid chain at any time with or without a softfork involved.
Updated on: 2023-06-14T18:53:08.479949+00:00