Post
Topic
Board Bitcoin Discussion
Re: If you were to recreate Bitcoin to be better and more secure. How would you?
by
Lauda
on 03/05/2015, 10:16:08 UTC
AFAIK, Cryptonote cleans the old transactions, which is not good to keep evidence. Probably good for anonymity though...
Cleaning old transactions is not a requirement of Cryptonote. https://cryptonote.org/ The key advantages of Cryptonote in my opinion over Bitcoin are ring signatures to provide fungibility and privacy and adaptive limits. The latter deals with the 1 MB blocksize issue right from the start.
I'm going to agree with this but partially. Something should be done to improve the anonymity and fix the blocksize issue, but there are probably better ways.
Eliminate the possibility of a 51% attack...
There has to be a solution. I wonder though why nobody is trying to implement anything? A 51% attack is the Achilles heel of Bitcoin.


the real issue with 51% isn't that big as many think, because no one in his right mind would spend a ton in mining equipment just to do a 51'ed to the network, it would be better for him to secure it in this case....

also if you take into account that the bitoin price is ridiculously low ,it is even stupid to do such a thing
That's what people in the Bitcoin community are hoping. The problem is bigger than you think. What's preventing the banks from turning on a 300 PHash farm right now? Nothing.
There are people to which Bitcoin is not a thread. Spending money to eliminate a thread is rational.