It is in the nature of open source software to evolve with collaboration and fork under contention. The same is true for blockchains and cryptocurrencies. As blockchains face the hurdle of mass adoption, coordination and collective decision making can contribute to the success of a project. While Bitcoin’s protocol is the standard for most cryptocurrencies as it relates to network consensus, it is arguably deficient as a mechanism for achieving social consensus among stakeholders.

This article depicts how achieving social consensus on intra-protocol changes can lead to disruptive events on the Bitcoin (or Bitcoin Cash!) network, and examines how Decred’s…


This is a follow up to “Apples to apples, Decred is 20x more expensive to attack than Bitcoin”. Upon further discussion with Decred project organizer Jake Yocom-Piatt, the claims made in the Proof of Activity paper did not accurately apply to Decred’s unique hybrid protocol. In this article, I aim to explicitly calculate the costs of a majority attack and compare Decred to other cryptocurrencies.

The Proof of Work (PoW) protocol was made ubiquitous by Bitcoin through its success in achieving the milestone of distributed and trustless consensus. Proof of Stake (PoS) is another such consensus mechanism that attempts to…


Upon further discussion with Decred project organizer Jake Yocom-Piatt, the claims made in the Proof of Activity paper did not accurately apply to Decred’s unique hybrid protocol. Please refer to my updated article with explicit calculation at https://medium.com/decred/decreds-hybrid-protocol-a-superior-deterrent-to-majority-attacks-9421bf486292

It’s no surprise that the success of cryptocurrencies is broadly viewed by their market cap relative to USD, rather than the more pertinent issue of the cost of an attack by malicious entities on the blockchain. This measure of success based on market cap may appear suitable until the worst befalls us and we are left helpless -like gamblers who’ve lost it…

Byzantine General

Independent researcher, interested in cryptocurrency protocols.

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