Post
Topic
Board Development & Technical Discussion
Merits 7 from 3 users
Re: [Proposal] Solution for 51% attack - Proof of Online
by
HeRetiK
on 27/09/2018, 08:06:09 UTC
⭐ Merited by suchmoon (4) ,ETFbitcoin (2) ,mdayonliner (1)
The title is not only clickbait, but also utterly wrong.

Block withholding attacks and 51% attacks are two entirely different things.

51% attacks by definition always include the majority hashrate, block withholding attacks not necessarily do.

Granted, block withholding attacks such as selfish mining are at their most effective with the majority hashrate, but then again every attack on PoW is. In the end once a miner achieves majority hashrate they can attack the network whatever way the like, regardless whether they decide to withhold blocks or not.

Apart from attacks on the incentive structure of PoW such as selfish mining, block withholding attacks are usually thwarted by... waiting for confirmations. That is, by using the protocol the way it was meant to be used.

That being said:

  • A particular signer is an account owned by a foundation or organization that initially designs the block chain or operates the block chain, and is called a verifier.

So the solution to block withholding attacks is.... federated trust.

...

*slow clap*