BitShares Forum

Main => General Discussion => Topic started by: CWEvans on March 25, 2014, 03:40:49 pm

Title: Game Theory Critiques of POW Mining
Post by: CWEvans on March 25, 2014, 03:40:49 pm

Recent article summarizes research analyzing weaknesses in Bitcoin's reliance on POW and mining.

"Academics Spy Weaknesses in Bitcoin’s Foundations (http://www.technologyreview.com/news/525676/academics-spy-weaknesses-in-bitcoins-foundations/)"

• Transaction fees alone are insufficient to justify expense of mining.
• 'Selfish Miner' attack.
• Centralization begets DDOS attacks.