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I haven't read all those papers, but basically you could always bribe miners, even without smart contracts, just by giving them money outside the blockchain the
by neiman 7y ago
I haven't read all those papers, but basically you could always bribe miners, even without smart contracts, just by giving them money outside the blockchain they mine.
One of the ideas of PoW is that if you have enough money to bribe the miners, it's better for you to be a miner yourself. Is this the principle your examples weakens? I may have misinterpreted them.
- jotakami 7y agoBribing outside of the system (i.e. in real life) could be a tremendous coordination and logistical challenge, especially given the amounts needed to make these attacks profitable. Smart contracts can make all of that trivially easy. It’s like... the people most interested in trustless collaboration are people who are untrustworthy. A trustless settlement layer seems fine, but any real human application is going to have an element of trust and doesn’t belong alongside settlement.