Wednesday 26 August 2015

What is the official response from the creators of BIP 100 on the 21% attack?


BIP 100 currently reads as follows:"Votes are evaluated by dropping bottom 20% and top 20%, and then the most common floor (minimum) is chosen."This means that if 21% of miners vote for a 1 byte block, then bitcoin effectively stops functioning as we know it.Some people are making conjectures that it would be the minimum in the case of increasing the block size, and a maximum in the case of decreasing the block size. (Thus ensuring 80% consensus each way).But I have yet to see the creators of BIP confirm this.What I am worried about is that BIP 100 is a stealth backdoor, meant to lower the block size (Say to half a MB, or a quarter of a MB), so as to force the bitcoin community over to something like lightning.Does anyone know what the BIP 100 creators are saying on the possibility of the 21% attack? Is this a bug or a feature? via /r/Bitcoin http://bit.ly/1K60ZbU

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