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As usual assumptions are much stronger than what Bitcoin has. I'm really sorry about the fact that this currency is voted up so much.
by xiphias2 8y ago
As usual assumptions are much stronger than what Bitcoin has. I'm really sorry about the fact that this currency is voted up so much.
- Vervious 8y agoWell, in some sense that's a good thing. Bitcoin relies on a synchronous network - an honest majority of online miners must be honest. Algorand's safety assumption is stronger - the honest stake need not be "always online", and the system cannot fork even under worst-case asynchrony. As a result I certainly don't trust Bitcoin with anything more than pocket change. I would, on the other hand, put money on Algorand. A Bitcoin attacker could conceivably DOS a handful of honest miners/network relays (given that mining seems pretty centralized), sequester a third of the mining network, and mint money. No matter how much DOS power you have, you cannot mint money on Algorand without a substantial proportion of the stake.