follow us on twitter . like us on facebook . follow us on instagram . subscribe to our youtube channel . announcements on telegram channel . ask urgent question ONLY . Subscribe to our reddit . Altcoins Talks Shop Shop


This is an Ad. Advertised sites are not endorsement by our Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise Here Ads bidding Bidding Open

Author Topic: CANADA BANK CONCLUDES THAT BITCOIN IS PROTECTED AGAINST ATTACKS OF 51%  (Read 684 times)

Offline marksayson

  • Full Member
  • *
  • Activity: 225
  • points:
    1155
  • Karma: 2
  • FINANCEX || THE NEXT GENERATION EXCHANGE
  • Trade Count: (0)
  • Referrals: 4
  • Last Active: June 07, 2019, 02:24:29 PM
    • View Profile

  • Total Badges: 12
    Badges: (View All)
    Topic Starter 100 Posts 50 Posts
A study developed by Bank of Canada staff determined that Bitcoin is sufficiently protected against 51% attacks or double spending. The 19-page document highlights that the Work Test (PoW) and the incentives of the network are considered as its main strengths.

The report, called as "[Suspicious link removed]patibility incentive", which has been written by Jonathan Chiu and Thorsten Koeppl, highlights the benefits offered by the protocol that uses Bitcoin, whose objective is to choose who mines the next block in a random and safe way through the Work Test that protects the network. The study suggests that the current system is even better than other proposed systems.

On the work of the miners and the processing capacity of the equipment used in mining, the report explains the following:

The bank also takes a tour of the confirmation of transactions as an additional step that makes it difficult for anyone to alter the history of receiving and sending cryptocurrencies, or trying to complete a double expense.
   

██████████████     ████████████    █████          ███              ██████              █████           ███          ████████▀    ████████▀    ███        ███
█████████████       ▄██████████▄    ███  ██        ███             ███████             ███  ██         ███        ███                 ███                  ███       ███
█████                               ████            ███   ██       ███            ███     ███           ███   ██        ███        ███                 ███                    ███   ███
████                                 ████            ███    ██      ███           ███        ███          ███    ██      ███        ███                 ███▀▀▀▀▀▀          ██████
█████████████▄             ████            ███     ██     ███         ████████████        ███     ██     ███        ███                 ███▀▀▀▀▀▀          ██████ 
███                                   ████            ███       ██   ███        ███               ███      ███       ██   ███        ███                 ███                     ███   ███
███                                   ████            ███        ██  ███      ███                   ███    ███        ██  ███        ███                 ███                    ███      ███
███                           ▄██████████▄    ███          █████    ███                       ███  ███          █████         ████████▄   ████████▄       ███         ███
███       

.EXCHANGE MADE SIMPLE.
                                                                                                   
           
                                                                                                 

|
The Next Generation Exchange
WhitePaper ⋄❖⋄ Telegram ⋄❖⋄ Facebook ⋄❖⋄ Twitter
Medium ⋄❖⋄ Youtube ⋄❖⋄ Linkedin ⋄❖⋄ Reddit
|
PUBLIC ICO COUNTDOWN
.═⟹  ICO WEBSITE  ⟸═.

Altcoins Talks - Cryptocurrency Forum


This is an Ad. Advertised sites are not endorsement by our Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise Here Ads bidding Bidding Open


Offline damsix

  • Legendary
  • *
  • *
  • Activity: 2466
  • points:
    40903
  • Karma: 3
  • Trade Count: (0)
  • Referrals: 0
  • Last Active: April 16, 2024, 05:31:57 PM
    • View Profile

  • Total Badges: 22
    Badges: (View All)
    Fifth year Anniversary Fourth year Anniversary 10 Posts
Re: CANADA BANK CONCLUDES THAT BITCOIN IS PROTECTED AGAINST ATTACKS OF 51%
« Reply #1 on: August 14, 2018, 01:45:23 PM »
The bank also takes a tour of the confirmation of transactions as an additional step that makes it difficult for anyone to alter the history of receiving and sending cryptocurrencies, or trying to complete a double expense.

isn't every cryptocurrency can't be falsified for every transaction?
because as far as I know Bitcoin also cannot be duplicated when it has made a transaction.
retire and rest in peace

 

ETH & ERC20 Tokens Donations: 0x2143F7146F0AadC0F9d85ea98F23273Da0e002Ab
BNB & BEP20 Tokens Donations: 0xcbDAB774B5659cB905d4db5487F9e2057b96147F
BTC Donations: bc1qjf99wr3dz9jn9fr43q28x0r50zeyxewcq8swng
BTC Tips for Moderators: 1Pz1S3d4Aiq7QE4m3MmuoUPEvKaAYbZRoG
Powered by SMFPacks Social Login Mod