Post
Topic
Board Marketplace (Altcoins)
Re: bter hacked and lost 50m nxt
by
Este Nuno
on 15/08/2014, 19:26:01 UTC
This is the fundamental design of blockchain technology.

Correct. It is distributed and decentralized governance, what the majority decides goes. This happens constantly whether it's moving to a new client or upgrading to a new protocol. That is the design.

Here it is in code https://github.com/bitcoin/bitcoin/blob/master/src/main.cpp#L2474

Code:
        // Reject block.nVersion=1 blocks when 95% (75% on testnet) of the network has upgraded:
        if (block.nVersion < 2 &&
            CBlockIndex::IsSuperMajority(2, pindexPrev, Params().RejectBlockOutdatedMajority()))
        {
            return state.Invalid(error("AcceptBlock() : rejected nVersion=1 block"),
                                 REJECT_OBSOLETE, "bad-version");
        }


Well then it looks like we still have a way to go. Because if this is how it should be "by design", it's not decentralized at all, not even close

What would you have done when someone created the 184 billion BTC out of thin air? If we couldn't roll that back BTC would be dead.

It's almost like anything other than this would actually be centralised. Because it would imply controlling the software to prevent change.