PoS attack question. | Bitcointalksearch.org

coinsolidation

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Quote from: lynn_402 on June 29, 2014, 05:56:12 AM

There are potential solutions in the work for that problem, "by ensuring that each minter could only allocate their coin-age capital to a single chain.": https://gist.github.com/mquandalle/4727a429d60aad916821

PoA as an alternative too, it randomise who get's to sign the next block.

lynn_402

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Quote from: newuser01 on June 29, 2014, 05:52:25 AM

Quote from: coinsolidation on June 28, 2014, 10:26:27 PM

In Proof of Stake the people that hold the most coins sign the blocks that will be part of the block chain.
The theory is that people that have the most to lose from a 51% attack will do their best to prevent it.
But, if you have the most money, and are signing the blocks, don't you have the most to gain by executing a double spend attack, and nothing to lose if it fails?

Yes

this is the "nothing to lose" issue with PoS..

If you are going to double spend on PoW and fail, you've lost a bunch of hashing power meaning lost $$$.

Try the same on PoS and if you fail nothing is lost.. in other words: you have nothing to lose.

There are potential solutions in the work for that problem, "by ensuring that each minter could only allocate their coin-age capital to a single chain.": https://gist.github.com/mquandalle/4727a429d60aad916821

newuser01

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Activity: 434

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Quote from: coinsolidation on June 28, 2014, 10:26:27 PM

In Proof of Stake the people that hold the most coins sign the blocks that will be part of the block chain.
The theory is that people that have the most to lose from a 51% attack will do their best to prevent it.
But, if you have the most money, and are signing the blocks, don't you have the most to gain by executing a double spend attack, and nothing to lose if it fails?

Yes

this is the "nothing to lose" issue with PoS..

If you are going to double spend on PoW and fail, you've lost a bunch of hashing power meaning lost $$$.

Try the same on PoS and if you fail nothing is lost.. in other words: you have nothing to lose.

lynn_402

sr. member

Activity: 462

Merit: 253

Quote from: coinsolidation on June 28, 2014, 10:26:27 PM

In Proof of Stake the people that hold the most coins sign the blocks that will be part of the block chain.
The theory is that people that have the most to lose from a 51% attack will do their best to prevent it.
But, if you have the most money, and are signing the blocks, don't you have the most to gain by executing a double spend attack, and nothing to lose if it fails?

Actually, the attacker would lose even if he fails, because his attempt might be spotted by someone, and that would reduce people's trust in PoS coins and thus their value.

coinsolidation

sr. member

Activity: 294

Merit: 250

Bitmark Developer

In Proof of Stake the people that hold the most coins sign the blocks that will be part of the block chain.
The theory is that people that have the most to lose from a 51% attack will do their best to prevent it.
But, if you have the most money, and are signing the blocks, don't you have the most to gain by executing a double spend attack, and nothing to lose if it fails?

Topic: PoS attack question. (Read 427 times)