[Cryptography] Bitcoin, fork you very much

John Levine johnl at iecc.com
Sat Dec 23 22:46:07 EST 2017


In article <CAJN+87FHXW8JqpEUKSLQH5T=5aLg_t4N0-jwpJhXaE3o0qdMAw at mail.gmail.com> you write:
>If China has more then 51% of the hashing power, it could simply block the
>bitcoin network. This would create a network partition. One blockchain
>would grow inside China while one would grow outside China. If China has
>more hashing power, its blockchain would likely grow longer (deeper) then
>the one outside.

Only in the short run, since the difficulty adjust every two weeks to
keep the rate about 0.1 block/minute gather there's a little used rule
that says that when two chains are of the same length the one with
more work wins, so if they have more than half of the hashing power
they'll probably win.  Or if the split's only for a few days, there
probably won't be time for an adjustment.

R's,
John
-- 
Regards,
John Levine, johnl at iecc.com, Primary Perpetrator of "The Internet for Dummies",
Please consider the environment before reading this e-mail. https://jl.ly


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