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RE: Some thoughts on blockchain social networks

in #blockchain4 years ago

I don't know that I would throw Bitcoin under the bus for the potential of mining pool operator abuse. If pools colluded to make a change then the community would just leave the mining pool immediately to a pool that supported the correct rule set. This would result in two chains momentarily but the community would quickly overtake the attackers hashing rate and resume blocks correctly leaving the fork to be worthless.

This isn't to say this isn't a potential attack vector to cause serious disruptions. That's why the work being put in on BetterHash and Stratum V2 are so important. Once we have these technologies developed then this attack vector will go to 0 and individual miners will have better control over their hashing power.

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I don't disagree with that. But the attack vector exists, but yes I should probably have emphasized that the mining community is much more mature in response in general.