How can a public proof of work be secured?

+1 vote

I am beginner to blockchain technology. I have understood that consensus is heart of any blockchain implementation. but if we look at the popular proof of work algorithm it has its limitations. an attacker will have to produce more than 50% of the total compute power (i.e control more than 50% of the nodes) in order to manipulate the block chain by being able to produce longest block chain consistently.

How can proof of work algo be improved so that attackers could not do any fraud with the network?

May 9, 2018 in Blockchain by Shashank
• 10,330 points

edited Aug 13, 2018 by Omkar 38 views

2 answers to this question.

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Best answer

Bitcoin was the first implementation of blockchain, following which there are many new platforms and implementations came up. So it depends what you want to do with the blockchain.

Every algorithm has its dvantages and disadvantage. Bitcoins proof-of-work is still considered to be one of the most popular consensus algorithm. Blockchain technology does many useful things like to control the vote in a distributed way in elections, creating disintermediation between the parties. Because of that, there are many implementations of Blockchains.

Hyperledger Fabric is a private Blockchain, where the acces to it must be controled Ethereum is a public Blockchian to transfer assets. Anyone could create his tokens and start using them through the Ethereum network. So, you will use an existing Chain and attackers couldn't hijack you.

answered May 9, 2018 by Johnathon
• 9,070 points

selected Aug 28, 2018 by Omkar
0 votes

This is impossible to secure PoW blockchain without "work". No work by honest nodes - no security. Point.

answered Aug 28, 2018 by Amaclin

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