Topic: Shared BTC Consensus Security (Read 42 times)

odolvlobo

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Quote from: ? on October 20, 2024, 01:37:08 AM

Without "shared BTC consensus security" it is easy for BTC to be nuked by indiscriminate market cap. For example, if a cryptocurrency A has approximately 1/4 of the market value of BTC, then 1/4 of the market value of BTC can control A. So only cryptocurrencies that reach the security level of the Bitcoin network are as safe as BTC.

Your example is flawed. If a coin has 1/4 of BTC's market cap and a person owns that much of a coin, then they own all the coins.

Anyway, assuming we are not referring proof-of-stake coins, how does ownership of a significant portion of the market cap of a coin affect its security?

icodezjb

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BTC accounts for more than half of the cryptocurrency market capitalization.
All cryptocurrencies or cryptocurrency platforms can only be considered theoretically safe if they reach the security level of the Bitcoin network. We call the ability to achieve Bitcoin network security level: "Shared BTC Consensus Security".
Without "shared BTC consensus security" it is easy for BTC to be nuked by indiscriminate market cap. For example, if a cryptocurrency A has approximately 1/4 of the market value of BTC, then 1/4 of the market value of BTC can control A. So only cryptocurrencies that reach the security level of the Bitcoin network are as safe as BTC.
So what are such cryptocurrencies?
Native assets on Bitcoin naturally enjoy the same consensus security as BTC on the Bitcoin network.

The #BEVM team has proposed the #SuperBitcoin framework, which aims to use BTC as the core, to build a valued Internet that can infinitely expand around BTC, sharing BTC consensus security.

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