Could he dominate consensus witnesses of Bitcoin, just like somebody dominated those of Steem and seized some accounts?
- Firstly, there is no such thing like consensus witnesses or even the concept of witness in Bitcoin.
- While Steem uses DPoS (Delegated Proof of Stake) mechanism, Bitcoin uses PoW (Proof of Work).
- In PoW the miners verify the transactions, not the witnesses.
- And everybody running the mining software is the miner. No need approval from anybody to be a miner.
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- Currently, there are likely to be over 1,000,000 unique individuals mining bitcoins.
- Someone has to dominate these 1,000,000 miners to take over Bitcoin. Compare it to a mere 20 consensus witnesses in Steem.
So, no! Anybody will not be able to take over Bitcoin, let alone seizing the accounts.
And we want such very robust security in Hive too! But how?
Sources:
- Go to page Witness Voting.
- Scroll down to the bottom.
- Input "puncakbukit" in the textbox below.
- Click VOTE button.
- We will follow you… ;-)
- My Witness Update
See also:
