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People choose their chain by choosing the software they run on their standard (non-mining, non-staking) nodes. Dishonesty requires custom-made software. Regard
by vvillena 5y ago
People choose their chain by choosing the software they run on their standard (non-mining, non-staking) nodes. Dishonesty requires custom-made software.
Regarding "stealing a token": remember that even in the case a block gets replaced by another, both have to be valid blocks, containing valid transactions. This is why the most famous attack is a just a "double spend attack" and not any kind of money steal. Problems with tokens, that is, transactions that run arbitrary code, happen due to bugs in such code, not because of fundamental issues with the protocol.
- newswasboring 5y ago> Dishonesty requires custom-made software. This is the bit I don't understand. A block is a set of transaction information which is chosen by the miner/staker. What's stopping them from just making it up? It will still be a valid transaction.
- vvillena 5y agoI can't reply to your last comment, we're at the limit of comment nesting :) Transactions are signed using public key cryptography. A miner can't modify a transaction present in the pool or make it up. Transactions need to be correct in order to be part of blocks.
- newswasboring 5y agoThis was the best conversion I have ever had about this topic. Now everything seems a bit more clear. Basically the only transactions we can "make up" is from wallets we already control because we will have the keys for it.