Re:Using Bitcoin for universally trustless randomness
by nightcracker on Thursday May 08, 2014 @10:06AM
(#7715310)
This assumption:
As no single party has the realistic power to find 2 solutions before others.
Is false. A 50% attack on the network is almost impossible, but a 5-10% is pretty reasonable. With 5-10% computing power you'll have quite a significant chance to find 2 solutions before others.
Re:Using Bitcoin for universally trustless randomness
by anon012012 on Thursday May 08, 2014 @06:44PM
(#7718177)
I see, thanks for pointing it out! It'd only be trustless for minor decisions, then, not worth risking the 1st hash reward to find another, and that's not very interesting.
As no single party has the realistic power to find 2 solutions before others.
Is false. A 50% attack on the network is almost impossible, but a 5-10% is pretty reasonable. With 5-10% computing power you'll have quite a significant chance to find 2 solutions before others.