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by brian_cloutier 2951 days ago
> PoW mining opens selfish mining strategies

This isn't really true. It's true of Bitcoin but selfish mining is an artifact of Bitcoin's sloppy way of estimating how much work is being done, not an artifact of PoW. An enhancement like Bobtail [1] eliminates the incentive to selfishly mine by improving the network's ability to estimate the network hash strength.

[1] https://arxiv.org/abs/1709.08750

1 comments

I've read it, but my concern with this approach is it actually slows bitcoin down substantally. Bitcoin already can't scale, and moving transactions off-chain to Lightning doesn't really address this concern. What's more, the slower the basis blockchain gets, the more prone Lightning networks are to malicious actors.
I'll admit I haven't read it for a few months, but I don't remember anything which would cause Bitcoin to slow down. What do you mean?

It does require a larger block header and more network traffic but Bitcoin's scalability is currently limited by politics, not network bandwidth.