Canada Central Bank: Bitcoin Safe From 51% Attack, Double Spending - by C. Edward Kelso

[nandibear]

Canada Central Bank: Bitcoin Safe From 51% Attack, Double Spending
news.bitcoin.com
by C. Edward Kelso
July 26, 2018

Excerpt:

Canada’s Central Bank (BOC) released a working paper this month, Incentive Compatibility on the Blockchain. In it, BOC seems to argue the world’s most popular cryptocurrency, Bitcoin, is safe from a 51% attack, double spend scenario through the right incentive structure and proof of work (POW).

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The study appears to conclude Bitcoin is protected against a 51% attack, double spending scenario — long thought to be the decentralized currency’s gravest threat. Mr. Chiu and Mr. Koeppl arrive at this conclusion through the traditional formula familiar to bitcoiners: correct incentives align with proof of work.

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Read entire article: news.bitcoin.com/canada-central-bank-bitcoin-safe-from-51-attack-double-spending/