[Cryptography] Bitcoin, fork you very much
Dave Horsfall
dave at horsfall.org
Sun Dec 24 02:36:34 EST 2017
> 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.
OK, I've grepped the 'net a few times, but I'm still trying to grok
Bitcoin in small words (the Aussie media is currently frothing at the
mouth over B$ falling off a cliff, for example, and it may as well be
written in Urdu).
Yes, I know the saying about the servants getting into the market...
Assume that I majored in Computer Science and Mathematics in the 70s, once
supported a financial package (but I've never invested so much as a cent
anywhere), and am an utter egg when it comes to crypto...
I grok the "proof of work" concept (why else are IoTs hijacked, for
example?) but I don't quite understand the ramifications, and why there's
a finite limit (aside from sheer hardware).
I hope I've made myself clear...
--
Dave Horsfall DTM (VK2KFU) "Those who don't understand security will suffer."
More information about the cryptography
mailing list