4 ms·
The founders reward is extremely high, so high that the founders have a significant ability to manipulate the market. This is a concern in part because the foun
by petertodd 10y ago
The founders reward is extremely high, so high that the founders have a significant ability to manipulate the market. This is a concern in part because the founders may be forced to do that - the actual implementation is with a single address, rotated periodically, which means that address is a single-point-of-failure for the whole currency in the sense that compromising it can be used to crash the price. Finally, 20% is high enough that it gives a significant advantage to 51% attackers.
- daira 10y agoThe concern in that last sentence seems misplaced; there is no relation between proportion of monetary base held by an attacker, and proportion of mining power held by an attacker.
- petertodd 10y agoThe problem is that it reduces the cost for an attacker; why do you think monetary base has anything to do with it?