FTC design and protocol
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Hi Devs,
If you know any place that are debating the BTC/LTC/FTC protocol and design to make it more robust against 51% attack, please put the link here.
I have been thinking of how we could make it more resilient to sporadic attacks and I would like to see if others have debated the same ideas before posting them here.
FTC for the win,
robep00 -
Withstanding attacks depends on strategy not specific features.
The “Warp Drive” we’re working on covers four aspects:
[list]
[*]Limit hit and run
[*]Allow early profit
[*]Choke sudden jumps
[*]Create diversity
[/list]To limit hit and run mining, we raise or lower the difficulty so that mobs don’t come too quickly, nor leave too fast.
Allowing early profit encourages small ramps rather than long difficulty ramps followed by sudden dumps, which is more profitable for the seller anyway.
Sudden jumps like the ones last night have to be met with random changes in difficulty with compensation over time so predictable patterns are not exploited.
Creating diversity means having a spectrum of hashrates and this could be accomplished by random changes in reward with compensation over time.I am working on a difficulty ramp that reacts to these conditions. It stays under the typical algorithm to draw in users and jumps to block attacks.
It will probably have 14, 56, 168, and 336 block triggers for adapting to changes. The 504 adjustment still applies.
51% is bad enough, but a 51% set up is only half an attack, it still has to deliver. We can block a string of them.
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Could it be possible to rise the amount of confirmation such as up to 256, just for upcoming merchants and exchanges that would like more protections if necessary during hard moments instead of 120 ? :)
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BTC-e already raises confirms to 50. Remember the block speed is 30+ minutes.
