Author: Peter Todd 2013-11-04 16:51:52
Published on: 2013-11-04T16:51:52+00:00
Ittay shares an email regarding a paper on the selfish mining attack. According to the paper, as long as the attacker is far ahead, others can mine on whatever they like and it doesn't matter. However, when they almost close the gap, leaving only one block lead, the selfish miners publish their secret blocks, losing their lead but winning the entire secret chain. The honest miners lose all the work they did so far. Peter suggests that forks are resolved quickly by proving which side has the majority of hashing power through near-target PoW solutions. This ensures there's nothing Alice can do to get ahead, defeating the attack.
Updated on: 2023-06-07T19:08:13.951386+00:00