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RE: Raiblocks Security Thoughts

in #raiblocks8 years ago (edited)

Very much appreciated this post in the midst of the hype of this coin. I've played a bit with the wallets and functionally it's great to see XRB moving so fast without fees. I also changed my representative to a random one further down the list and this made me wonder how the default representative is selected. I think this is key to the security of the network and the team should expand on this in the whitepaper or elsewhere. Another issue is I self-representation which seems to be possible. If many wallets do this they become dead-end-streets when offline and all balances eventually routed to these will not be able to assert their voting power which reduces decentralization.

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I think this is a serious concern that needs to be fully addressed. What you described in combination with a denial of service attack could potentially allow someone to take advantage of the ledger due to the lack of settlement finality.

I wrote up these concerns here https://steemit.com/raiblocks/@selfdrivingsandp/raiblocks-lack-of-settlement-finality