The different transactions change the block hash, though, so it's the same problem for the attacker that you originally pointed out with proof-of-work, no?
On Fri, Feb 7, 2014 at 12:06 PM, David Vorick <[email protected]>wrote: > The problem is that you have a bunch of your own coins, so you are mining > the chains that have been announced, but you are also mining possible > chains that involve you that you never announced. > > So if I never announce that I destroy 10 coin days, but I have 10 coin > days to destroy, there is an alternate reality that I'm also mining, If I > don't like the current chain, I can add my own coin days to a different > fork in the past to make that fork now the heaviest fork. Then I announce > it. Especially if I'm working with a bunch of other people, they can add > their own coins and we can work together to make it the longest chain. If > it becomes the longest chain, they get back any coins they destroyed in an > alternate history. > > So basically, it's very cheap for a set of collaborating nodes to build a > forest of alternate chains, and the longest can change anytime we > collectively alter the history or add another fork somewhere to make it the > new longest. It's relatively inexpensive to balance all these forks. > > So it works as long as the powerful individuals aren't mining multiple > chain simultaneously. But what's to stop them? So it's ultimately not very > secure once powerful groups start attacking the currency. > > > On Fri, Feb 7, 2014 at 2:53 PM, Sean Lynch <[email protected]> wrote: > >> AIUI there are multiple ways to implement proof-of-stake. A friend of >> mine proposed treating the chain with the most coin days destroyed (along >> with correct difficulties for the standard proof-of-work function) as the >> "longest" one rather than only the most difficult chain. Does that not work? >> >> >> On Fri, Feb 7, 2014 at 2:40 AM, Lodewijk andré de la porte >> <[email protected]>wrote: >> >>> Any functional complaint + it being illogical economically. Power to >>> those that rule. Fantastic plan. >>> >> >> >
