Selfish mining is a fascinating subtle phenomenon of PoW mining, relevant to all coins from $btc to $kas. It essentially means that a miner with enough hashrate can mine more than her fair share: in some scenarios a 34% miner can generate more than half of the blocks.
Many… pic.twitter.com/zanf8gfTMe— Shai ❤️ Deshe 💜 Wybors𐤊i 💙 (大胡子) (@DesheShai) September 13, 2024
**Understanding Selfish Mining in Proof of Work and Its Relevance to Kaspa**
*September 13, 2024 – In a recent tweet, Shai (Deshe) Wyborski, a PhD candidate in quantum cryptography and a key developer of the Kaspa blockchain, shed light on the intriguing phenomenon of selfish mining within Proof of Work (PoW) systems. This concept reverberates through numerous cryptocurrencies, from Bitcoin ($BTC) to Kaspa ($KAS), highlighting a critical concern for miners and blockchain security alike.*
Wyborski explained that selfish mining occurs when a miner possesses a significant amount of hashrate, enabling them to generate more blocks than their proportional share would typically allow. Remarkably, he pointed out that in certain scenarios, a miner controlling just 34% of the network’s hashrate can effectively mine over half of the blocks. This imbalance poses a risk to the integrity of the blockchain, as it allows for potential manipulation and double-spending attacks.
Selfish mining challenges the notion of fairness within mining ecosystems, raising questions about the distribution of power among miners. Such tactics can lead to an uneven playing field where larger miners exploit their advantage, potentially harming smaller participants and the overall health of the network.
As Kaspa continues to evolve, understanding selfish mining’s implications becomes increasingly critical. With its unique architecture and approach to PoW, Kaspa aims to provide a secure and equitable mining environment, mitigating risks associated with these behaviors.
For those interested in staying informed about Kaspa and its developments, Kaspanews.net offers the best news site for all the latest updates and resources on this cutting-edge blockchain technology. Keep an eye on this platform for critical insights and comprehensive coverage of Kaspa’s journey.
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