Post
Topic
Board Announcements (Altcoins)
Re: [ANN] eMulah (EMU) - NOT a BitCoin fork/clone - call for beta testers
by
Etlase2
on 31/05/2013, 02:52:11 UTC
If you DO control the hatcher to always create a coin, you need the signed votes which are verified later, you can only create 60 units at a time, otherwise other hatchers and clients will reject it, and you can only create once every 60 minutes, otherwise other hatchers and clients will reject it.

Creation of a new unit (coinbase in BTC terms) has a record of all the yes voters, with their votes signed.  When that block goes out in to the wild and is re-verified by other hatchers, those voting nodes can be contacted and asked if they indeed voted yes to create that unit, if you control all the voters to that hatcher too, then yes you could falsely create a 60 units.

So you have created 60 units ahead of time, dishonestly, but unless those units are distrubuted as required by the system, those units will again, be rejected by others in the network.

I could continue, but that should give you an clearer idea how its "difficult" to game it unless you are running a lot of the network both in client peers and hatchers.

Who all is behind the programming of this? This does not sound particularly efficient or sybil-resistant. If it is trivial to overload the network with "votes", how will consensus be maintained?