It still violates the optimistic premise of blockchain advocates that it helps us move to a world where trust is baked into the systems. If you live under the assumption that you're perpetually under attack unless you…
Technically the unit of measurement is hashing power, rather than % of nodes or participants, but there is an underlying 51% problem with blockchain. The attack surface is similarly limited; they couldn't really "rob"…
Do you remember when the majority hard-forked, changed history, and restored millions of ether to DAO? Is that not blatantly a majority imposing themselves on the economy through majority dictate?
In block chain, 51% of the network can decide to modify the ledger to do things that aren't true. That's all it takes to completely change how much money is in my account in a "distributed" bank. I don't own it, and…
It still violates the optimistic premise of blockchain advocates that it helps us move to a world where trust is baked into the systems. If you live under the assumption that you're perpetually under attack unless you…
Technically the unit of measurement is hashing power, rather than % of nodes or participants, but there is an underlying 51% problem with blockchain. The attack surface is similarly limited; they couldn't really "rob"…
Do you remember when the majority hard-forked, changed history, and restored millions of ether to DAO? Is that not blatantly a majority imposing themselves on the economy through majority dictate?
In block chain, 51% of the network can decide to modify the ledger to do things that aren't true. That's all it takes to completely change how much money is in my account in a "distributed" bank. I don't own it, and…