Topic: Blackcoin security doubts, what is your opinion on these answers? (Read 761 times)
as long as the multipool pumps the price, who cares about security, amirite guise?
April 14, 2014, 07:45:06 AM
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10 second confirm times
Faster blocks don't mean faster confirmations. You have to wait for a couple of blocks before you can assume a transaction is safely confirmed by the network. With faster blocks you're getting less security per block, so you have to wait for more blocks before you can assume the transaction is non-reversible.From what I understand faster blocks does result in faster confirmations and is not less secure because of it.
April 14, 2014, 07:41:44 AM
Quote
10 second confirm times
Faster blocks don't mean faster confirmations. You have to wait for a couple of blocks before you can assume a transaction is safely confirmed by the network. With faster blocks you're getting less security per block, so you have to wait for more blocks before you can assume the transaction is non-reversible.Quote
extremely 51% attack resistant due to pure PoS
Read the peercoin whitepaper. They actually say that their approach weakens double spend protection. An attacker really only has to accumulate enough coin age to have a good chance of performing double spend attacks. And then trying them is basically free due to the very low effort it takes to create a proof of stake block. That's the reason peercoin had to introduce central checkpointing, which is the main problem with its concept, because it adds a centralized component to the network. Jump to: