It seemed to make sense from my limited understanding and lack of awareness in the specific algorithms for proof of stake
currently looking at the source code, its likely i was wrong
if only it wasn't such a disorganized mess i could of avoided this embarrassment
having a mini freak out are we? haha I understand what you getting at, but im sure this was thought of by who ever created the original concept of pos as this is a clone! fortunately there are other coins ahead of us so we can see what happens and get out before the shit hits but I highly doubt it. Please post your findings here if you dont mind
i would need someone more versed with the code to explain how it all fits together, my limited grasp is not good enough and my C++ skills needs some refreshing
it may not be possible to do enough consecutive blocks without too many interrupting valid blocks to do 51% attack altho from what i understand i cannot guarantee it cant happen
it seems possible to cause constant high difficulty and make PoW block mining impossible
im currently on the fence until someone can explain how the PoS block limitations work, the whole you need >51% supply for an attack seems to be a myth based on the code i have read
Im also not sure about this 51% business, iv read that it needs to be in the 80's for it to even be possible! I'd hope who ever came up with the concept of POS was an intelligent individual and therefore would have thought about what we are discussing.
51% allows you to maintain the longest chain and therefore set what transactions get included, you can do Denial of Service by not allowing any transaction in the blocks or double spending by making it accept in one block but then continue on an other chain with another transaction and make that one longer, making the tone the merchant thought valid, invalid.
but the possibility of this can cause panic and loss of faith in coin. someone or some group may have an interest in DOSing a coin
the more i think about it the more doubt i have about how much consideration was done for making sure PoS is infallible. Humans cannot consider everything and with code only a few understand it would be hard to catch all the possible inconsideration's in time.
some blocks i got a few seconds apart
not using TX timestamp, using the block timestamp
TX amount 11764.905757
TX date 2014-03-02 03:18:43
PoS date 2014-03-22 05:50:39
TX amount 36431.654419
TX date 2014-03-02 04:31:20
PoS date 2014-03-22 05:50:41
TX amount 35010.984549
TX date 2014-03-02 14:42:45
PoS date 2014-03-22 20:21:39
TX amount 33558.460203
TX date 2014-03-02 16:36:21
PoS date 2014-03-22 20:21:53
