3 ms·
> the cost of fraud very very high. Just high enough for lots of people and their friends to conspire against the rest of the network? I'm afraid web-of-trust
by wyldfire 9y ago
> the cost of fraud very very high.
Just high enough for lots of people and their friends to conspire against the rest of the network?
I'm afraid web-of-trust alone is not enough to make a safe and useful cryptocoin. It would also require significant additional changes from current popular cryptocoin designs.
- crdoconnor 9y ago>Just high enough for lots of people and their friends to conspire against the rest of the network? That depends upon what they conspire to do, surely? As far as I can see there are three attacks: * Creation of fictional people * Conspiracy to "unperson" a real person * Identity theft There are many defenses that could be put in place against all of these using a web of trust system. The PGP version is a little rudimentary to protect against them, but it's still a good foundation.