In a blog post published yesterday, I mentioned that only a naive attacker would attack PoW “from the outside”. I since put together a simple model of the “internal attacker” I was thinking about.
About a week ago, a miner and friend mentioned to me that reducing block rewards would require another hard fork. I agreed. I realized only after replying that he meant that it would be a contentious fork.
I’m going to tell you about a token sale architecture that arguably has some nice safety properties.
It implements a price floor and a price ceiling on the token being sold.