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The author seems confused about the nature of this attack. It has nothing to do with using the go language or any other, it's purely about the choice of consen
by keypusher 10y ago
The author seems confused about the nature of this attack. It has nothing to do with using the go language or any other, it's purely about the choice of consensus algorithm and the vulnerabilities of a small ecosystem. In a small blockchain, it's much easier for bad actors to gain enough hashing power to control proof of work. I do see they are moving to a proof of stake algorithm, I hope that works out.
Still unclear to me why some of these smaller coins exist, except perhaps for rampant speculation. From the krypton site: "$KR is my vision for an ultra-fast blockchain that can realize all of the features of Ethereum with fewer initial coins, faster speed and lower inflation." That sounds ok, but right now none of those things are the primary problem with Eth.
- isubkhankulov 10y agoits clear to me that they exist because the founders benefit from their existence. its a repeatable revenue stream. "I am not the only person with a sizeable investment in KR and I am now nowhere near the top holder, having solely repaid the theft from Bittrex, valued at $2,900."
- nl 10y agoStill unclear to me why some of these smaller coins exist, except perhaps for rampant speculation. I don't play in this space, but I bet it is because some traders have methods of using differential exchange rates between exchanges to make money. The values may be large(ish), but they are probably hedged by bets the other way on other alt-coins. There is a strategy in betting called Dutching[1], and I suspect that people are doing similar things trading between alt-coins. Of course, there are also fools who put their life savings into some random coin. Good luck to them. [1] https://en.wikipedia.org/wiki/Dutching https://en.wikipedia.org/wiki/Dutching