Re: [ANN] Bitcoin Cash - Pro on-chain scaling - Cheaper fees
Its a bit concerning for bitcoin cash that the miners have the power to 51% attack the network so trivially. Even if they seem to have reasons, they shouldn't be able to
I don't really understand what exactly you expected from a shitcoin like BCH.
I'm not a fan of bitcoin cash. In the beginning it was interesting as a candidate for the version of bitcoin following the original ethos. But that is well and truely dead in the water now. Especially after the damaging Bitcoin SV split. I don't like SV either
Dash has the most interesting approach to mitigate against 51% attacks
Mitigating 51% attacks with LLMQ-based ChainLocks
https://blog.dash.org/mitigating-51-attacks-with-llmq-based-chainlocks-7266aa648ec9
Quote
Implications and effects on the network
ChainLocks have a few very important effects on the whole (Dash) network and its economics. The most important effect for normal users and merchants is that transactions can be considered fully confirmed after the first on-chain confirmation inside a block protected by ChainLocks. Transactions can no longer vanish from the chain since reorganization of signed/locked blocks is not possible. This means that there is no need anymore to wait for 6 or more confirmations until a received transaction can be considered secure.
It also has effects on the economics of mining. It removes all incentives for miners to cause chain reorganizations. Many attacks based on secret or selfish mining become impossible as they all depend on miners withholding longer and secret chains. Under the current consensus rules, such chains would override the publicly known chain and cause a chain reorganization when published. With ChainLocks however, miners are incentivized to publish every block immediately, even if they in theory have enough hash power to overrule every other miner. Failure to publish creates substantial risks for a malicious miner since any secret chain (even if thousands of blocks longer) would be immediately invalidated if another honest miner publishes a valid block that receives a CLSIG before the secret chain is revealed.
ChainLocks have a few very important effects on the whole (Dash) network and its economics. The most important effect for normal users and merchants is that transactions can be considered fully confirmed after the first on-chain confirmation inside a block protected by ChainLocks. Transactions can no longer vanish from the chain since reorganization of signed/locked blocks is not possible. This means that there is no need anymore to wait for 6 or more confirmations until a received transaction can be considered secure.
It also has effects on the economics of mining. It removes all incentives for miners to cause chain reorganizations. Many attacks based on secret or selfish mining become impossible as they all depend on miners withholding longer and secret chains. Under the current consensus rules, such chains would override the publicly known chain and cause a chain reorganization when published. With ChainLocks however, miners are incentivized to publish every block immediately, even if they in theory have enough hash power to overrule every other miner. Failure to publish creates substantial risks for a malicious miner since any secret chain (even if thousands of blocks longer) would be immediately invalidated if another honest miner publishes a valid block that receives a CLSIG before the secret chain is revealed.