2 ms·
It may be a mistake to assume that small alternative cryptocurrencies are automatically viable. 51% attacks may become a severe problem, especially for very sma
by fragsworth 13y ago
It may be a mistake to assume that small alternative cryptocurrencies are automatically viable. 51% attacks may become a severe problem, especially for very small mining networks. We may eventually see enough 51% attacks on altcoins that most people revert to the few largest networks (Bitcoin, Litecoin, and maybe a couple more). Or maybe we won't, and each new altcoin inflates the system.
- heurist 13y agoThat's a good point, I'll have to think about that more. My initial thought is that at least exchanges wouldn't be limited to currencies with that vulnerability. Most small currencies would also have limited or no initial value and probably wouldn't be worth taking over unless it was a pump and dump scheme, but centralized exchanges might be able to mitigate that.. Interesting idea, thanks.