Revision as of 14:12, 8 January 2020
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Message definition (How VeriBlock PoP vBFI Protects Altchains )
A Proof-of-Proof secured altchain protects its users from double-spend (51%) attacks by emitting real-time security statistics for any block (and the transactions included therein) on the altchain network by looking at these malicious publications (or a lack thereof). These security statistics indicate exactly how difficult replacing a particular block (containing a particular transaction) on the altchain network is, ranging from only needing to reorganize ''n'' altchain blocks, to needing to reorganize ''n'' VeriBlock blocks, to needing to reorganize ''n'' Bitcoin blocks. When the number of Bitcoin blocks an attacker would need to reorganize a particular altchain block is greater than zero, that altchain block (and all contained transactions) have achieved Bitcoin-finality, meaning Bitcoin itself would have to experience a 51% attack in order to be able to reverse that altchain block (and all contained transactions).
A Proof-of-Proof secured altchain protects its users from double-spend (51%) attacks by emitting real-time security statistics for any block (and the transactions included therein) on the altchain network by looking at these malicious publications (or a lack thereof). These security statistics indicate exactly how difficult replacing a particular block (containing a particular transaction) on the altchain network is, ranging from only needing to reorganize ''n'' altchain blocks, to needing to reorganize ''n'' VeriBlock blocks, to needing to reorganize ''n'' Bitcoin blocks. When the number of Bitcoin blocks an attacker would need to reorganize a particular altchain block is greater than zero, that altchain block (and all contained transactions) have achieved Bitcoin-finality, meaning Bitcoin itself would have to experience a 51% attack in order to be able to reverse that altchain block (and all contained transactions). Translation A Proof-of-Proof secured altchain protects its users from double-spend (51%) attacks by emitting real-time security statistics for any block (and the transactions included therein) on the altchain network by looking at these malicious publications (or a lack thereof). These security statistics indicate exactly how difficult replacing a particular block (containing a particular transaction) on the altchain network is, ranging from only needing to reorganize ''n'' altchain blocks, to needing to reorganize ''n'' VeriBlock blocks, to needing to reorganize ''n'' Bitcoin blocks. When the number of Bitcoin blocks an attacker would need to reorganize a particular altchain block is greater than zero, that altchain block (and all contained transactions) have achieved Bitcoin-finality, meaning Bitcoin itself would have to experience a 51% attack in order to be able to reverse that altchain block (and all contained transactions). A Proof-of-Proof secured altchain protects its users from double-spend (51%) attacks by emitting real-time security statistics for any block (and the transactions included therein) on the altchain network by looking at these malicious publications (or a lack thereof). These security statistics indicate exactly how difficult replacing a particular block (containing a particular transaction) on the altchain network is, ranging from only needing to reorganize n altchain blocks, to needing to reorganize n VeriBlock blocks, to needing to reorganize n Bitcoin blocks. When the number of Bitcoin blocks an attacker would need to reorganize a particular altchain block is greater than zero, that altchain block (and all contained transactions) have achieved Bitcoin-finality, meaning Bitcoin itself would have to experience a 51% attack in order to be able to reverse that altchain block (and all contained transactions).
