@1: They do not need to.. however most attacks do have this done, as they need to outrace the main blockchain to be successful! As I said before, it is possible to slow boat the system but a "slow-boat" style attack is much more noticeable.
@2: Plenty of "What ifs" in life, yes this doesn't protect us from every conceivable scenario, but it does stop some, you have to give it that.
@3: That will only be the case in the event of a multipronged 51% attack, which I'm fairly certain would be fatal if those "legit miners" were not cut off for 4 hours anyways. IMO It's like saying why wear a bulletproof vest when it cant protect you from an RPG?
Attention is good for our market right now.. I realize the optimal solution is to do things quietly, however right now there is plenty of attention on genuinely shitcoins that could be on GoldCoin.
Why do keep fixating on "longest chain"? ? ?
The longest chain does not determine the accepted chain. With no disrespect intended it is clear that you do not even have a basic fundamental understanding of 51% attacks or any other for that matter. Everything proposed as "protection" in this thread is flawed to say the least.
~BCX~
Correct me if I am wrong, but the longest valid chain is the accepted chain no?
The
longest valid chain and
the longest chain are two different things.
The chain with the most hash rate will determine the valid chain.
~BCX~
I don't see how that affects us, this system works before the block validity checks.. Those are still done afterwards.
This system will simply remove(as best it can) all the longest chains that had any 6 blocks in a row that were produced too quickly (contain 6 blocks produced < 10 minutes).(Past block 100K)
It does this by banning peers locally(for 4 hours) and scheduling a temporary checkpoint 12 blocks ahead(checkpoints live only in memory and are erased upon client restart) who try to submit these new blocks with timestamps that fit the criteria.
It has extra checks for blocks prior to 100K as we have parts of our chain that do not fit that criteria atm and we don't want clients to be banned for sending those older blocks.
It's essentially a throttle on how fast valid chains can mine their blocks.