cyu@sh.itjust.works to World NewsEnglish · 7 months agoBRICS to launch independent financial systemvovworld.vnexternal-linkmessage-square49fedilinkarrow-up175arrow-down15cross-posted to: world@lemmy.world
arrow-up170arrow-down1external-linkBRICS to launch independent financial systemvovworld.vncyu@sh.itjust.works to World NewsEnglish · 7 months agomessage-square49fedilinkcross-posted to: world@lemmy.world
minus-square82cb5abccd918e03@lemmygrad.mllinkfedilinkarrow-up3·7 months agoDoesn’t bitcoins blockchain use some sort of consensus algorithm, so if one party has more than 50% of the compute power they control everything?
minus-squarequeermunist she/herlinkfedilinkarrow-up1·7 months agoIn a democracy one person couldn’t ever have more than 50% of the votes.
minus-squareslacktoidlinkfedilinkEnglisharrow-up1·7 months ago51% but thats slower so ideally around 66% so you can make quicker faster changes. but yeah you ll have the same issues with fiat at that point.
minus-squareslacktoidlinkfedilinkEnglisharrow-up1·7 months agoThey who domiante block mining will dominate the chain. 66% is just an outright majority relatively. 51% vs 49% can be regained with enough luck.
Doesn’t bitcoins blockchain use some sort of consensus algorithm, so if one party has more than 50% of the compute power they control everything?
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In a democracy one person couldn’t ever have more than 50% of the votes.
51% but thats slower so ideally around 66% so you can make quicker faster changes. but yeah you ll have the same issues with fiat at that point.
deleted by creator
They who domiante block mining will dominate the chain. 66% is just an outright majority relatively. 51% vs 49% can be regained with enough luck.