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RE: EOS - Developer’s Log Stardate 20176.30
My understanding of how EOS achieves massive transaction speed / scalability is that it delegates block production to a single actor for each block. How is block forgery NOT possibly a problem? I've read the explanations and it's somehow 'the longest chain wins' like Bitcoin ... but I don't see how that actually applies in a 'one actor per block' scheme? One actor just forges, block is hashed, boom, done: nobody the wiser. Hope my question makes sense :) and I'd love to know the answer! Big fan of EOS in all other ways than this lingering doubt.
Bitcoin works same way, one actor per block. Bitcoin uses hash and pow for signature which can be forged by anyone willing to spend as much pow, DPOS uses private key signatures which cannot be forged without hacking an account.
That's great informative comment.
So with all these layers of security it is still not safe from the threat of a hacker ? Now I totally feel safe with the $20,000 I just put into this project :(
Well, I guess you best leave it in your bank account or bitcoin wallet which are both also vulnerable to having their accounts "hacked".
Username checks out.
I'm glad to hear that with the increase in technology and performance, the safety is even more important.
dan why this Payout decline of ur post?
Yes
In an era of permissioned blockchains gaining favor with financial institutions over decentralized, freely trading cryptocurrencies like Bitcoin, Ethereum, or Ripple, Safe Cash is one of the first blockchains to be commercially viable that can meet the transaction processing speed and throughput requirements of today's market. Safe Cash employs instant settlement in under five seconds, improved security, and controlled consensus that does not rely on miners or any intermediary coin that must be purchased. It allows banks to wean themselves off the high-priced, inefficient SWIFT network that can take days to transfer money. Banks can have their own "white label" blockchain that they control and manage. Inter-bank settlement can be achieved with multi-currency wallets, a separate bank settlement blockchain, or a combination thereof, depending on bank requirements and legal compliance.
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