MIME-Version: 1.0
From: Wang Chun <1240902@gmail.com>
Date: Tue, 20 Jun 2017 02:01:45 +0800
Message-ID: <CAFzgq-woP3kWC9wYm=YxA_W=jMoL0AegTtUhTX3kEdMaB3m1rA@mail.gmail.com>
To: bitcoin-dev@lists.linuxfoundation.org
Content-Type: multipart/alternative; boundary="001a1141deda95b844055253ed50"
Subject: [bitcoin-dev] An alternative way to protect the network from 51%
	attacks threat
Precedence: list

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There has been proposal to change the PoW in case of potential 51% attacks
from malicious miners during a fork. But such a change in PoW renders
multi-billion-dollar of ASIC into worthless. which hurts economy so much
and the average innocent mining users. I would propose, instead of PoW
change, we could change the system to the same double sha256 PoW but mix it
with PoS features. Such a PoW+PoS system has several advantages:
* It protects existing multi-billion dollar investments from innocent
mining users,
* A malicious miner cannot launch attacks and rewrite the blockchain with
51% or even more hashrate,
* If we insert 4 PoS blocks between 2 PoW blocks, we'll have 2-minute block
time span, that solves the long confirmation time problem,
* We'll suddenly have 5 times of block space, that solves the scaling
problem,
* The PoS blocks only mine transaction fees, so the 21M cap remains,
* With careful design, the PoW+PoS transition _might_ be able to deploy
with a soft fork.

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<div dir=3D"ltr"><div><div><div><div><div>There has been proposal to change=
 the PoW in case of potential 51% attacks from malicious miners during a fo=
rk. But such a change in PoW renders multi-billion-dollar of ASIC into wort=
hless. which hurts economy so much and the average innocent mining users. I=
 would propose, instead of PoW change, we could change the system to the sa=
me double sha256 PoW but mix it with PoS features. Such a PoW+PoS system ha=
s several advantages:<br></div>* It protects existing multi-billion dollar =
investments from innocent mining users,<br></div>* A malicious miner cannot=
 launch attacks and rewrite the blockchain with 51% or even more hashrate,<=
br></div>* If we insert 4 PoS blocks between 2 PoW blocks, we&#39;ll have 2=
-minute block time span, that solves the long confirmation time problem,<br=
></div><div>* We&#39;ll suddenly have 5 times of block space, that solves t=
he scaling problem,<br></div><div>* The PoS blocks only mine transaction fe=
es, so the 21M cap remains,<br></div>* With careful design, the PoW+PoS tra=
nsition _might_ be able to deploy with a soft fork.<br></div></div>

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