Post
Topic
Board Altcoin Discussion
Re: Why not...? (Oooh drawing you in with a question... (and then humor))
by
DannyHamilton
on 24/01/2015, 06:52:10 UTC
By basing a fixed reward on a proof of work Bitcoin prevents a Sybil attack. You have to think about how your protocol will overcome a Sybil attack in order to make it work. I don't see a decentralized way to know exactly how much hash power someone is providing.

You need a centralized entity to determine and enforce rules about splitting hash power.