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> Not quite. The miners collectively decide what rules to follow. I don't mind being nitpicked but what you wrote is more incorrect. Miners can't unilaterally
by olalonde 6y ago
> Not quite. The miners collectively decide what rules to follow.
I don't mind being nitpicked but what you wrote is more incorrect. Miners can't unilaterally decide what rules to follow even if a majority of the hash power formed a cartel. Non-mining nodes also validate the rules and would reject mined blocks that violate consensus rules. The worse that a majority cartel of miners could do is perform a double spend attack or bring the network to a halt but that's hardly surprising.