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271 sats \ 3 replies \ @Filiprogrammer 1h \ parent \ on: A soft fork is a 51% attack on Bitcoin bitcoin
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.
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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