Post
Topic
Board Altcoin Discussion
Re: The state of crypto - The only serious thread on the subforum
by
r0ach
on 16/09/2015, 21:25:57 UTC
edit: only POW provably solves the byzantine generals problem in the face of sybil attack

Delegated proof of work, which Bitcoin is, doesn't.  If 70% of the hash rate is in china owned by three pools, you have no way of knowing these pools aren't owned by the same person (sybil).  The only way is to audit them yourself, which is the purpose of the voting mechanism in DPoS, to audit the block validators for sybil.  The only difference is, the audit mechanism is built into the protocol of DPoS and excluded entirely from DPoW (delegated proof of work).

Seriously, read my first and second post in this thread, I'm not bullshitting here, it's painfully obvious this is the case:

The Bitcoin consensus mechanism is incorrectly labeled Proof of Work

https://bitcointalk.org/index.php?topic=1176835.0