Anyone have thoughts on the Spacement white paper? Particularly the part where they mention BURST:
"The most notable security issue with Burstcoin is time-memory tradeoffs: a miner doing just a little extra computation can mine at the same rate as an honest miner, while using just a small fraction (e.g., 10%) of the space."
See the end of page 4 and also end of page 26 thru 28:
https://eprint.iacr.org/2015/528.pdfThere also mention some other problems related to verification and nothing-at-stake or grinding. Seems like these guys are the real deal, half of them from MIT.
Edit: Also, is v1.2.3 still OK to use?
I believe this vulnerability is known and the very reason BurstDev worked on what became known as PoC2, which would address this problem. PoC2 was, however, never implemented before he stoped developmental work. As I understand it, the new team is aware of the weakness and that a "PoC2" will be presented later. This is, however, not confirmed but just my guesses from communication with various people.
Whether the weakness is true or not, it must be stated that it still is possible to make a decent profit from regular hardware with BURST.