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Author Topic: Mined 2 coins who's chains both split and miners lost out  (Read 199 times)
Digital Drug Lord (OP)
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February 10, 2018, 08:49:58 PM
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I didn't lose out but I'm wondering how secure is their Network if this can happen?
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It is a common myth that Bitcoin is ruled by a majority of miners. This is not true. Bitcoin miners "vote" on the ordering of transactions, but that's all they do. They can't vote to change the network rules.
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Vann
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February 10, 2018, 09:17:15 PM
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Dems da breaks of mining shitcoins with a low network hash rate and questionable 'Devs'.
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February 10, 2018, 09:19:01 PM
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Dems da breaks of mining shitcoins with a low network hash rate and questionable 'Devs'.

So it's the devs fault?
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February 10, 2018, 09:25:36 PM
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Not necessarily. A low network hash rate means it's easy to do a 51% attack on the chain and fork off. No dev can prevent that, but a good project will have lots of hash power, making forking the chain much harder. Sometimes it's caused by bugs in the wallet, which a good dev team can prevent.
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February 17, 2018, 05:23:47 PM
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Not necessarily. A low network hash rate means it's easy to do a 51% attack on the chain and fork off. No dev can prevent that, but a good project will have lots of hash power, making forking the chain much harder. Sometimes it's caused by bugs in the wallet, which a good dev team can prevent.


Are there any algos that can survive a %51 attack if the coin has a low has rate?
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February 19, 2018, 09:10:52 AM
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Not necessarily. A low network hash rate means it's easy to do a 51% attack on the chain and fork off. No dev can prevent that, but a good project will have lots of hash power, making forking the chain much harder. Sometimes it's caused by bugs in the wallet, which a good dev team can prevent.


Are there any algos that can survive a %51 attack if the coin has a low has rate?

no can do
pos and other consensus can provide a better solution for this attack but even they are susceptible
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