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171 sats \ 5 replies \ @047b99aa4d 2h \ on: A soft fork is a 51% attack on Bitcoin bitcoin
So expand on that. What happens to the nodes running the new software IF less than 51% of the hashrate isn't mining blocks using the new software? Mechanic has described some kind of mechanism where the chain split can eventually catch up to the other and then a wipeout occurs. Any thoughts on that scenario or how/if it could happen?
Let's imagine a fork happens and 40% of hash is on the new rules and 60% of hash remains on the old rules.
The chain with the old rules outgrows the one with new rules. (for now)
Let's say at a later point in time more miners switch from the old rules to the new rules. Now 60% of hash is on the new rules, while 40% is on the old rules. In this case the new chain will eventually outgrow the old one. Now the new chain is also the valid one according to the old rules, since it is longer. Thus the blocks on the old chain are replaced by the ones on the new fork.
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So this is the wipeout scenario. If only Ocean is mining blocks on the new software split I don't know how they think their chain would ever be able to catch up... Also, how do block subsidies work in the "split then catch-up" scenario? If there is a reorg after 100 blocks pass does it invalidate the 3.125 Bitcoin awarded?
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Anything in the blocks that get reorg'd out is gone, so that includes block subsidies.
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the new chain will eventually outgrow the old one
This makes sense. Thanks for explaining it. The important point seems to be that a fork needs sustained period of majority hash power enforce its rules.
Thus the blocks on the old chain are replaced by the ones on the new fork.
This comes with a reorg of some length because the old chain that miners were working on gets orphaned.
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To be honest, I find this stuff difficult to reason about, so here's my best guess:
If a soft fork doesn't have majority hash power enforcing it
and if a block gets mined containing a transaction that is invalid according to new rules
miners running new rules won't build on that block
If majority of hash power will build on that block
chain will split
and miners and nodes enforcing new rules will fork off from rest of chain
I don't see how the soft fork side of the split is ever reconnected with old rules side.
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