Thursday 27 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 smallblocks backdoor, meant to lower the block size (Say to half a MB, or a quarter of a MB). As 21% could lower blocksize to whatever they want.

Does anyone know what the BIP 100 creators are saying on the possibility of the 21% attack? Is this a bug or a feature?



Submitted August 27, 2015 at 11:32AM by stale2000 http://bit.ly/1K60ZbU

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