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I don't see how it could work even in principle. If mining is profitable at all, what would stop a single miner from impersonating multiple miners? If it doesn'
by eterevsky 6y ago
I don't see how it could work even in principle. If mining is profitable at all, what would stop a single miner from impersonating multiple miners? If it doesn't work, why would it be profitable to an intended user with RPi?
- RL_Quine 6y agoWell exactly. As a system for preventing sybil attacks this doesn't do anything.
- hosh 6y agoThe intended design is for mining to not be profitable. It looks like the phased introduction of Rules 1 and 2 have already achieved a breakup of mining power. There looks like the occasional ASIC miner that pops in, causes a disruption, and the miner leaves. Time will tell if these set of incentives will achieve what the designer intended.
- api 6y agoIf mining is unprofitable doesn't that incentivize people to do underhanded things like Sybil attacks?
- hosh 6y agoSure. There are some other things to mitigate that. I forgot which rule, but one of them limits what a successful Sybil attack can do. The whitepaper with the complete list of business rules and why those were chosen are worth reading.