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by bouncycastle 2729 days ago
That tends to happen in PoW actually. Example: Last year, Monero forked and changed the protocol by changing the PoW algorithm. Effectively shutting off a significant section of the miners. Miners had no defence - it was a major blow to them. Same thing happened in Sia. There's been discussion with changing the PoW of Bitcoin as well.
2 comments
rocqua 2728 days ago
This was a change meant to block ASIC mining and encourage GPU mining.

Whilst this is great for decentralization, I've read interesting arguments in favor of ASIC mining. People who buy ASICs are committed to a coin. This leads to a stable base of mining. Meanwhile, GPU miners tend to mine whatever is the most profitable at any given time. This leads to large fluctuations in mining rates.

The Ether switch to POS has some people worried, as it might free up a lot of GPU power, which might overwhelm other GPU based POW systems.

Then again, any argument regarding mining algorithms is filled by people who have biases to the tune of 100 000$ of hardware investments.

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nivexous 2729 days ago
You're making a different point. Yeah miners can get screwed in a PoW change, but the chain's fundamental properties are not at risk. Users have assets on both chains in a fork and if one chain does something terrible (or even just different) the market will reflect. With PoS, the majority remain the majority ... unless you support mob theft, a bad precedent I would say.
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bouncycastle 2729 days ago
Nope, if an attacker does something bad (eg. a group forms a 51% cartel and starts censoring transactions), then they can be forked out and their stake slashed in the fork that doesn't censor the transactions. I really do not see a problem here? It's even better security than PoW, because once the attackers have their stake slashed, they can't attack anymore. With PoW, the miners can keep on doing a 51% attack even after the fork, indefinitely.

PoS is way more secure.

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adrianN 2728 days ago
...if you trust a minority to decide who is an attacker and who isn't.
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dekz 2728 days ago
It's pretty clear when you validate the transactions
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