Author: ZmnSCPxj 2020-10-08 01:39:45
Published on: 2020-10-08T01:39:45+00:00
The author discusses block-withholding attacks and FPNC and proposes two simple changes that could significantly improve the network. The idea for FPNC came from a conversation with ZmnSCPxj regarding re-org stability. The current issue with the network is the miner withholding attack, which creates an unintended incentive to hold onto blocks. Major mining pools are actively using this strategy, creating an unfair advantage, home-field advantage, and contributing to centralized networks. Withholding delays transactions and encourages disagreements, making it ideal for dishonest miners. A solution was presented many years ago, which raised the threshold to 33%, and today, floating-point Nakamoto Consensus is a hard NAK due to the risk of reintroducing the selfish mining attack.
Updated on: 2023-06-14T16:03:56.777834+00:00