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If this is true, then does the pre-existing size of BTC and other widely mined crypto-currencies create a moat? How can a new up-start coin ever hope to gain si
by anonymous_ch 8y ago
If this is true, then does the pre-existing size of BTC and other widely mined crypto-currencies create a moat? How can a new up-start coin ever hope to gain significant traction with the possibility of a 51% attack?
- SilasX 8y agoThe parent’s scenario was predicated on using the same hashing algorithm for the mining/proof of work as the dominant coin. So you can avoid that by using a different hashing algorithm. Monero plans to do that indefinitely, by constantly changing to a new hashing algorithm that doesn’t have dedicated ASIC chips for it.
- madmax96 8y agoYou have to use a PoW that's different enough from popular blockchains that they are unable to use speciality hardware against you.