PoS miners can rule over PoW miners


#21

[quote=“Chronos, post:20, topic:764”]Based on this blockchain explorer, the POW blocks have higher difficulty than the POS blocks. http://ppc.cryptocoinexplorer.com/chain/PPCoin Are you sure a newly-minted POS block can “knock out” the latest POW block in this way?

im3w1l, POW can’t be phased out of PPC completely. The protocol is not designed for this to happen. This discussion might interest you: https://bitcointalk.org/index.php?topic=316813.0[/quote]
Ok thanks, yes that thread was very informative.


#22

It would be great to get Sunny’s thoughts on this attack. It certainly appears to be a serious one.


#23

I wish people would calm down with the alarmist attitudes. This isn’t an attack. It is a small advantage if all the right conditions prove to be true IN THEORY.

I’m sure Sunny will mention something when the time is right. Right now he’s working in development for a 0.4 release.


#24

[quote=“singlethread, post:13, topic:764”]Split 4000 PPC into 1000 portions of 4 PPC and use one portion every day. Most of your investment is at maximum coin age: 880490 = 316800 coindays.
You can expect to mine a PoS block every 6.5*2^32/316800/24/3600 = 1.0 days.[/quote]

It is a good discovery, which is beneficial to the long-term development of PPC.
singlethread, Can you make a more clear explanation about : 1) the number 880 in max coin age calculation. 2) the expected PoS mine time formula: difficulty * 2^ 32 / coinage. Thanks.
It would be great to see Sunny’s reply regarding this issue.


#25

[quote=“singlethread, post:13, topic:764”]Split 4000 PPC into 1000 portions of 4 PPC and use one portion every day. Most of your investment is at maximum coin age: 880490 = 316800 coindays.
You can expect to mine a PoS block every 6.5*2^32/316800/24/3600 = 1.0 days.
This will kill 1 out of every ~ 24 blocks = ~ 4%[/quote]

I need to run through these numbers to figure out why, but something looks off by an order of magnitude in these calculations.

4 PPC * 90 days = 360 coin-days at maximum, per “silo” of coins. Just because you own 1000 “silos,” doesn’t mean than you’re going to somehow win every draw against the rest of the coins that are up for stake. For every day, you’re competing against people who are putting many multiples of coin-days up against you.

I believe you are significantly over-estimating the benefit of this type of manipulation.


#26

Has there been any further investigation into this? I’d like to hear more, especially if any one has run any actual tests.


#27

I hope someone else here is old enough to appreciate this comment, but when I read this statement, what came to me was the comparison between BETA and VHS. ;D


#28

lol, do you know “Video 2000” as well, oldster? [emoji14]
I think Peercoin is more like a videostream, because it is so nicely distributed and because you need no highly specialized hardware; anything that can play this stream is good enough :smiley:


#29

[quote=“masterOfDisaster, post:28, topic:764”]lol, do you know “Video 2000” as well, oldster? [emoji14]
I think Peercoin is more like a videostream, because it is so nicely distributed and because you need no highly specialized hardware; anything that can play this stream is good enough :D[/quote]
Actually, no, I had never heard of that before. I had to look it up on Wikipedia, and it says that it was marketed in Europe, Brazil, and Indonesia. Considering I’ve lived in the US all my life, that is probably why.