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If only trustworthy entities are part of the network, this isn't much of a problem. No large financial institution will launch an attack against their own netwo
by this_user 11y ago
If only trustworthy entities are part of the network, this isn't much of a problem. No large financial institution will launch an attack against their own network.
- csomar 11y agoMaybe the attack will be external then? (Thieves, Hackers, Foreign govs...)
- dogecoinbase 11y agoNo large financial institution will launch an attack against their own network. Hayes's LIBOR rigging scheme would seem to indicate otherwise.
- icebraining 11y agoI think there's a difference between rigging numbers and launching an attack on the network. All that it would happen is that the other peers would detect the increase on hashing power and shut down the nodes. The problem with a public blockchain is that you don't know who is hashing. On a private network, you can tell each node to only hash at a certain rate, and monitor the total rate to detect cheats.
- aianus 11y ago> If only trustworthy entities are part of the network Then you don't need a blockchain at all, just use a centralized ledger.
- eru 11y agoOr even decentralized.
- elektromekatron 11y agoThey will if they think they can make money from doing so.