Post
Topic
Board Announcements (Altcoins)
Re: [ANN][GRA] Graincoin - PoW/PoS coin | Fast, secure | Version 1.6.2 Release
by
bee7
on 24/09/2014, 22:45:42 UTC
It is also a bad idea of swisscex to accept Grain deposits after only 6 confirmations.

Missed this initially. It's their business and their risks. If they see it affordable then let it be.

I can send you my wallet with all Tx, if it helps you to analyze with issue.

I just wonder, if it works for 2h, would it also work for a day or a week or a month?

The main problem behind Grain is that there is no hash power behind it.
There is no need to send your wallet.

Works what? No PoW blocks for 2 hours? Or something else? If the former one, I already explained you: there were no miners active during that time. According to my observations we have only two or three people PoW mining it. And they do not mine it 24h a day. I have only 1 CPU miner running to collect the blocks when there is no power at all - just to give an opportunity to other people to mine.

With "works" in mean that the blockchain accepts blocks with future timestamps.

Ah, I see. First, no legitimate node would accept the block that has time in advance of more that max clock drift. The max clock drift is currently 2 hours. It came from original bitcoin client and for bitcoin network it is not a problem at all. As I mentioned, I am going to change that parameter, but it requires a hard fork, so I would like to collect all such hard changes together. Also no legitimate node would accept the block that is in the past relative to the GetMedianTimePast().
You could of course (and it seems you did Smiley ) make a tweaked wallet that would persistently submit the blocks with time 2 hours in advance. This would influence the difficulty of course, but will not stop the network from generating new PoS blocks as I assume that even before your dump you were not in possession of 51% of all coins. So even if you managed to bring the network's PoW difficulty to some high value that 'stopped' the current network's hashing nodes from producing PoW blocks and you started to create your own fork to override main chain you most likely would fail as the cumulative trust score of your fork would be less than the network's one: the block trust score is a function of the block's difficulty and a history of last 12 blocks. So, to achieve the better result you should have more resources (both the hashing power and the supply) than the rest of the network.

Taking to account the currently low network hashing power it is of course possible to make successful doublespend, but as I already said I am not going to pump the situation with the thin air. As the coin presently has very low value I do not see any reason to care much about this: when and if the graincoin get well valued then miners come.