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The majority of participants do not in a crypto-currency. Only the majority of the hashing power.
by valarauca1 9y ago
The majority of participants do not in a crypto-currency.
Only the majority of the hashing power.
- jstanley 9y agoIf a majority of participants rejected blocks that were on a chain that did not rollback the erroneous transaction, then the hash power would be forced to follow. I believe the term for who decides is the "economic majority".
- xorcist 9y agoHashing power can not roll back transactions. Hashing power alone can not change rules embedded in the software. Proof of work is used to order transactions in the global ledger to avoid the double spending problem.