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RE: 51% Attacks And The Future Of PoW
Thankyou for clarifying that 😊 i now have to see what will be removed from my portfolio! The 51% attacks have in my eyes made all pow cryptos not worth investing in as much. I have lisk but hope to get money for more. Eos and steem i got (obviously!) I will check out Ark.. bitshares i have no clue about but it dosnt sound like one id be interedred in!
BitShares deserves more fame than it gets. I'm partly guilty, should have tried it out ages ago, but so far haven't. They have a decentralized marketplace built into the protocol, as well as tokens tracking fiat currencies. (SteemIt is built on the same framework, and it has one such token - the SBD)
I was just checking it out on coinmarketcap, but was sadend to see that its not on ny exchange that I have an account for.... But i can get it on blocktrades! something which I still havent explored yet but i should!
Bitshares seems quite cool, and very cheap concidering the max supply.
On blocktrades , we use steem connect to log in? and have wallets on blocktrades?
I believe that should work.
No. I believe you provide them with a payout address, and then they return "money in a different flavor" as soon as you send money to the deposit address.
I think binance has it
For the record: although it hasn't happened yet, PoS coins can also be 51% attacked by buying the majority of the coins. And then the attacker can keep double-spending.
Yes thanks thats why i asked about Dpos,because 51% attacks are not possible,am i correct in this?
It's unlikely, but witnesses could collude to get a majority. That happened with Lisk, which has a different design than Steem: 101 active witnesses who receive 'forging rewards' and cooperate in pools. I don't think the majority pool did anything malicious, though.
Yes that's what I was thinking it would only be possible with a dpos if people plotted in a big group.
hey.... I just saw that this reply wasnt even sent, i have a bad internet here in NORWAY, boasting one of the best internets in the world. Theres no way saterlites are even real!
I came back here to ask you if Tokens (I have more value in tokens than coins) are possible to do a 51% on? at a quick think they shouldn't be as the represent shares in a company?
OK, tokens are as safe as the blockchain they're registered on. In theory, there could be a problem if the tokens are worth more than the underlying coin.
In practice, the greatest risk is errors in the contract code for Ethereum tokens. That's why I prefer standardized Waves tokens.
I just went to investigate what standardized wave tokens are, and i ended up finding the waves exchange?! Didn't even know there was such a thing, and WCT? Waves community token? Anyway atleast I have now an official wallet which will save me pain in the future :)