I was speaking about the first version of "SegWit" which did not require a hard fork. The second one "SegWit2x" does, but wasn't pushed because of a lack of consensus and other technical disagreements.
Which lead us to my point. Even though there are concepts and technical similarities as you stated between the chains, one can mistakenly conclude that our situation is the same as the one on the bitcoin chain.
We should not, in my opinion, deal with the issue with an approach that plays more on the similarities of technical concepts, but rather on the different values and effectiveness of these concepts on different architectures and blockchain models.
That transaction consensus constitutes a higher threat to chains that are highly similar to our chain, thus, such technicals characteristics need to be taken into consideration while approaching the question of freezing stakes or any other form of transaction refusal. As you can see, a technical concept can carry different weights according to which environment you put it in hence why a precision could be made when writing about such a thing.
I beg to differ, such consideration is important to anyone who wants to invest or build a new blockchain. If specific types of chains are more prone to the abuse of "transaction refusal" or other attacks, then yes I think it's important to mention it even if the technical definition of such mechanism is the same on all types of chains.
You can't just add a DPOS and POW chains in the same bin when it comes to the potential risks such a mechanism could represent.
That "few of people" can be easily achieved on Steem than Bitcoin. That's my point. Think about it in terms of risk management for example.
The number of block producers that need to coordinate to refuse a transaction is about the same both for Steem and Bitcoin.
On Bitcoin 15 mining pools control 91.8% of the hashrate vs the 15 top witnesses positions in Steem that are needed for consensus.
So in terms of the number of actors that need to coordinate the risk is about equal...the difference is in the cost to carry out such an "attack".
the difference is in the cost to carry out such an "attack".I agree. Even 1 person, as long as you have the resources, in both chains.
Thank you,
Sun took over the Steem chain easy with just a few millions. Oen server to run everything.
I want to see him try the same thing on the Bitcoin chain.
Then will try to compare the costs
the distribution of coins is still better on Steem than BitcoinWhat do you mean exactly by distribution? people who are using the coin, people who are mining or getting or using the coin? those are different chains, and the consensus for transaction refusal is not reached in the same way even if the technicality of it (transaction refusal) is the same.
`considering that the trend is for ever increasing concentration of coins into fewer and fewer hands and the same for hash power``
Unless those people are using nuclear fusion and not seeling anything to cover the energy cost.
You are mixing Bitcoin (the coin) with the question of hash power and transaction refusal consensus.
people can cooperate to ignore transactions without any problems what so everA known fact.