Thoughts About Nothing at Stake
▻https://hackernoon.com/thoughts-about-nothing-at-stake-b93b13bb5d6e?source=rss----3a8144eabfe3-
Theoretical attack against Proof of StakeNothing at Stake — Photo by Felipe Palacio on UnsplashBottom line: yet another theoretical attack that does not work in practice.Nxt, the first pure proof of stake coin, implements a simple algorithm to determine the next block generator (called forger). The algorithm is explained here. In a nutshell, the higher your #nxt balance, the higher the chance that you’ll forge the next block proportionally. Actual block generation is randomized by the protocol. Simple, fast, efficient, no energy waste, and it can even run on a low power Linux device or cheap VPS node.Over the years this simple algorithm has been criticized heavily as inherently insecure mainly due to the “Nothing at Stake” attack explained by Competitors, Researchers, would be experts, and (...)