So, here is what's going to happen.
In NXT, forgers decide what chain to forge on.
NXT is all for decentralization.
CfB is against a rollback, he said, but he sees not giving a choice to the community as a centralized decision on his part.
That's why he's going to put a modified release for download, which rolls back the chain.
If enough forgers download that release and forge with it and their chain is longer, then that chain wins and the hack is rolled back.
If enough forgers stay on the old chain and keep it the longest, then the hack is not rolled back.
That's how decentralization works in the PoS world.
The equivalent in PoW would be 51% of the miners mining on the longest chain, it's same in PoS.
Let's see how this drama unfolds
In NXT, forgers decide what chain to forge on.
NXT is all for decentralization.
CfB is against a rollback, he said, but he sees not giving a choice to the community as a centralized decision on his part.
That's why he's going to put a modified release for download, which rolls back the chain.
If enough forgers download that release and forge with it and their chain is longer, then that chain wins and the hack is rolled back.
If enough forgers stay on the old chain and keep it the longest, then the hack is not rolled back.
That's how decentralization works in the PoS world.
The equivalent in PoW would be 51% of the miners mining on the longest chain, it's same in PoS.
Let's see how this drama unfolds
Interesting. A practical problem may be that most forgers automate, checking in maybe once or twice a month. Forgers should be actively notified of the position so that they download the release and forge the uncorrupted fork. I think this is right but by all means disagree with me if it is not.
There is no such thing as corrupted or uncorrupted chain. Personally, I am going to forge on the old chain, because I believe in that people need to be their own bank and not keep funds at exchanges.
You should advise your fellow NXTians that everyone should stop talking about not rolling back. Even if people are going to forge on the old chain the more they say "no rollback" the less chance the hacker will actually complete the deal with Lin. He has no incentive to send the money back and save everyone's money if all of the NXT community is shouting "NO ROLLBACK!" at the top of their lungs.
At least bluff a little that it's going to be rolled back.