Re: Where is the separate discussion devoted to possible Bitcoin weaknesses.
Re: Where is the separate discussion devoted to possible Bitcoin weaknesses.
Date: August 11, 2010
Source: BitcoinTalk Forum
URL: https://satoshi.nakamotoinstitute.org/posts/bitcointalk/344/
It doesn't have to be such a breaking change. New nodes could accept old transactions for a long time until most nodes have already upgraded before starting to refuse transactions without PoW. Or, they could always accept old transactions, but only a limited number per time period.
I've thought about PoW on transactions many times, but usually I end up thinking a 0.01 transaction fee is essentially similar and better. 0.01 is basically a proof of work, but not wasted. But if the problem is validating loads of transactions, then PoW could be checked faster.
A more general umbrella partial solution would be to implement the idea where an unlikely dropoff in blocks received is detected. Then an attacker would still need a substantial portion of the network's power to benefit from a DoS attack.
Quote from: gavinandresen on August 11, 2010, 04:10:56 PM