3 ms·
right, but those "nodes" are basically proxy nodes which fan out to thousands of individual miners which are actually burning the hashes. since downtime is extr
by a-dub 4y ago
right, but those "nodes" are basically proxy nodes which fan out to thousands of individual miners which are actually burning the hashes. since downtime is extremely costly, i expect that those operators to have multiple geographically distributed proxy pool leaders ready to be switched on at a moments notice.
for the purposes of an entity that can be attacked, yes, the pool leaders are such... but since the pools are just proxies and the actual miners have incentives to stay online, i imagine new pools would form pretty quickly.
finally, everyone focuses on the 51% attack as the end-all, be-all. the only net effect of a 51% attack is that someone might be able to double spend. the cost of running the attack would require that the double spend be pretty massive to make it worth it, and for any massive transaction anyone prudent would wait until said transaction was quite deep in the chain before considering it done (thus requiring even more hashpower to undo it).