This fork would in effect break the gridcoin network until the BOINC servers come back online.Ģ) You can be as honest as possible, but many people still won't trust you. This would fork the gridcoin chain because some nodes will take into account the PoR bonuses (and all transactions using these coins), while others will reject them because they were unable to confirm the BOINC rankings. Even if it was made 99% distributed, the 1% of centralization is what will eventually hamper it.ġ) When the BOINC servers come under DoS attack while gridcoin nodes are downloading the rankings, some nodes will have the rankings data, some will fail to get it. This is why being 100% fully distributed is incredibly superior to being 90% distributed like Gridcoin. On the other hand, a true distributed currency like Bitcoin does not depend at all on a single server. under DoS attack? How do you resolve gridcoin transaction conflicts which could be resolved by looking up the BOINC ratings? The whole gridcoin network would be unable to operate due to a few servers being down. This is too much trust and is bound to break at some point.Īnd in addition to these social problems caused by centralization, what about the technical ones? What happens when the BOINC servers are down, ie. You cannot give power to a central entity (BOINC servers) to control distribution of money. Morale of the story: absolute power corrupts absolutely. At this point the situation is a mess and is no different than Ripple/Stellar to whom this exact scenario happened: part of the Ripple community abandoned Ripple and followed Jed McCaleb's Stellar fork. Maybe they would try to set up a new entity to run a new set of BOINC servers. Maybe they would try to abandon trusting these BOINC servers, but how? They would not all agree on a solution. The Gridcoin community would be upset and disagree with this. But eventually they would interfere with the rankings for their own financial benefits, either plainly maliciously, or with excuses to appear semi-legitimate (they could say "since we run the BOINC servers, we deserve a share of the profits"). They would give appearances of operating legitimately at first. Or they could offer to outright purchase the domain names and entity managing them, maybe they would even hire the staff running the servers. So many people would be interested in gaining control of the BOINC servers. A good chunk of this million dollars would be distributed based on BOINC rankings. Here is a thought experiment for you to understand: imagine if Gridcoin was as big and as valuable as Bitcoin, which has about $1 million dollars worth of bitcoins mined every day. This "little bit" of centralization makes Gridcoin sufficiently brittle that it completely annihilates its chance of being widely successful AND stable.
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