bloominglotus

4 ms·

1. 1.▲
   by bloominglotus 9y ago

   It still violates the optimistic premise of blockchain advocates that it helps us move to a world where trust is baked into the systems. If you live under the assumption that you're perpetually under attack unless you rigorously protec
2. 2.▲
   by bloominglotus 9y ago

   Technically the unit of measurement is hashing power, rather than % of nodes or participants, but there is an underlying 51% problem with blockchain. The attack surface is similarly limited; they couldn't really "rob" the wea
3. 3.▲
   by bloominglotus 9y ago

   Do you remember when the majority hard-forked, changed history, and restored millions of ether to DAO? Is that not blatantly a majority imposing themselves on the economy through majority dictate?
4. 4.▲
   by bloominglotus 9y ago

   In block chain, 51% of the network can decide to modify the ledger to do things that aren't true. That's all it takes to completely change how much money is in my account in a "distributed" bank. I don't own it, and