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by xorcist
1986 days ago
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Miner centralization is not without risks, but is fundamentally very different from centralizing economic activity, with different security outcomes. A dominating miner runs the risk of a 51% attack, which can cause denial of service or censorship, but game theory dictates that the missed opportunity cost is huge. A dominating economic actor makes the whole blockchain an obsolete backend to something like Paypal. |
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