Zubair Zia talks about blockchain security, how PoW works, majority attacks, PoS issues, and how Decred leverages the strengths of PoW and PoS to enhance security.
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Decred’s high network security is a result of its hybrid Proof-of-Work (“PoW”) and Proof-of-Stake (“PoS”) mining system. It depends on how decentralized Decred’s PoW and PoS actors are. With over 20 Voting Service Providers ("VSP”) and open-source VSP software, the PoS aspect of the network is currently the most decentralized.
This is a follow up to ?Apples to apples, Decred is 20x more expensive to attack than Bitcoin?. Upon further discussion with Decred project organizer Jake Yocom-Piatt, the claims made in the Proof of Activity paper did not accurately apply to Decred?s unique hybrid protocol.
As part of our ongoing effort to ?decentralize all the things?, we have developed secure communications software that we are open sourcing today, called zkc.