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Hey guys, I was told to check out Nano, so I did. I read the whitepaper. Claims of high scalability, decentralized, no fees, and instant transactions seem too good to be true. There must be tradeoffs, right?
Can anyone help answer some questions I have:
1) What happens when there is a netsplit and 2 halves of the network have voted in conflicting blocks? How will the 2 sides ever converge when they start communicating with each other?
2) I know that validators are not currently incentivized. This is a centralization force. Are there plans to address this concern?
3) When is coins considered confirmed? Can coins that have been received still be rolled back if a conflicting send is seen in the network and the validators vote in that send?
4) As computers get more powerful, the PoW becomes easier to compute. Will the system adjust the difficulty of computing the work accordingly? If not, DoS attacks becomes easier.
5) Transaction flooding attack seems fairly cheap to pull off. This will make it harder for people to run full nodes, resulting in centralization. Any plans to address this?
Thanks!
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June 22, 2024, 08:00:28 PM
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