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by DINKDINK 2926 days ago
>Time and again it has been proven that major blockchain's hashing/voting powers are in hands of select few.

Incorrect, miners produce blocks that follow users' consensus rules. Users do not follow miners' blocks. No amount of bitcoin hashing can get bcash users to run bitcoin and vice versa.

1 comments

Pray tell - who are these users and how are they different from miners? And how do these users vote?
>how do these users vote?

Simple, by running which ever client that has the consensus rule set they want.

>how are they different from miners?

Miners use hashing power to produce blocks that meet users' consensus rules. Users verify these blocks meet their own consensus rules.

e.g. HashingCo uses their miners to produce a block with a blockreward of 12.5 bitcoin. In that block they include a transaction to their power supplier. The power supplier receives the block over the p2p network, checks if it is valid for their consensus rules, and then settles their bill. If HashingCo produces a block with a 100 bitcoin coinbase reward, sent that block to their power supplier, no amount of hashing will get their supplier to accept it as valid