Author: Mike Hearn 2015-09-29 17:51:34
Published on: 2015-09-29T17:51:34+00:00
Bitcoin's security is based on the assumption that a supermajority of miners are honest. This applies even if one runs a full node, as stated in the white paper. A dishonest miner majority can engage in fraudulent activities such as mining empty blocks which could render one's money worthless. The reliance on miners' honesty is not exclusive to simplified payment verification (SPV).
Updated on: 2023-06-10T23:27:20.985431+00:00