http://forum.feathercoin.com/topic/2709/advanced-checkpointing-releasedWhat is checkpointing?Checkpointing was originally built in to Bitcoin in order to prevent dishonest people reversing transactions and taking back the money they had sent. Imagine someone sends you money and you dispatch goods only to find that they have taken the money back out of your account.
The basic checkpointing feature in Bitcoin makes sure that the software only connects to the blockchain defined by the developers. This is a safety feature to stop malicious users from trying to force clients on to a different blockchain. The blockchain has all the Bitcoin transactions of Bitcoin written into it. Every block in the blockchain has a unique string of characters called a hash. In the client the checkpoints are defined by providing the block number and its hash, this is then compiled and distributed. Clients will only accept the blockchain that has the corresponding block number and hash defined in the code. Checkpointing offers some protection against attackers but only up to the last checkpoint. So malicious users could try to orphan blocks after the last checkpoint and reverse transactions with 51% attacks.
What is Advanced Checkpointing?Advanced Checkpointing allows us to send out checkpoints without having to redistribute the Feathercoin software. This works by having a ‘master node’ which checkpoints each block it sees on the network protecting it from the attacker. This checkpoint is then picked up by all the other clients on the network which will then ignore any blocks generated by a 51% attack. This protects merchants from transaction reversal and miners from losing their newly minted coins. With Advanced Checkpointing, Feathercoin becomes the most secure of all the Scrypt cryptographic currencies.
Is this a centralised solution?ACP is a form of centralisation that we have put in place because we believe security comes first. Attacks on this new breed of crypto currencies are on the rise with the attackers becoming more and more resourceful. We are the first Scrypt based coin to respond to this threat by recruiting the best minds in this domain to ensure everyone is protected even those who engage in speculative mining and to whom we owe a debt of gratitude for their patience and understanding.
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one commenter pointed out:
Radacoin 3 years ago
[quote name=“Bushstar” post=“26405” timestamp=“1377621353”]
… the checkpoint master node is deployed and maintained by the lead developer Peter Bushnell. Currently
no other person has access to this system …
[/quote]
Ugh … did a decentralized p2p digital currency just became centralized? Not sure how the (Bitcoin/Litecoin) community will react on this.
Bushstar, what happens if some crooks kidnap you and threaten to cut of your fingers if you don’t checkpoint
their blocks.
What happens if you lapse into a coma, die, loose your mind?
What happens if your system gets compromised?
Single point of failure -> not good.
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So... how is trex at fault?