Re:Ghash.io very close to 51% of bitcoin pool
by VMG on Thursday January 09, 2014 @03:44PM
(#7033089)
It is both very technical and very political.
Encryption itself is a highly political technology - the right for two parties to communicate securely and covertly is controversial in many parts of the world, even today.
The economics of centralization are a dependent on the technical choices of the protocol -- PPCoin and scrypt-based crypto-currencies are specifically designed to avoid the scenario that is happening right now, by not relying solely on sha256^2 hashing power. Of course they are not perfect and have their own issues.
Encryption itself is a highly political technology - the right for two parties to communicate securely and covertly is controversial in many parts of the world, even today.
The economics of centralization are a dependent on the technical choices of the protocol -- PPCoin and scrypt-based crypto-currencies are specifically designed to avoid the scenario that is happening right now, by not relying solely on sha256^2 hashing power. Of course they are not perfect and have their own issues.