ELI5: Hard Forks and 51% Attacks \ stacker news ~bitcoin

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74 sats \ 6 comments \ @Pepperoni 14 Nov 2023 bitcoin

I understand that hard forks needed a majority consensus to carry on but I think my confusion is how consensus is created. I was told that it's not the number of nodes, but rather the people that control the nodes so there couldn't be any centralization of voting power. But how does that work if we vote through the software we choose to run on the node?

If Larry has 100 nodes and updates to v2.0 vs Jess who only has 1 node on original software, how are their votes the same?

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0 sats \ 1 reply \ @piecover 14 Nov 2023

It's one node one vote, you don't need to upgrade to what the majority wants. Your version of bitcoin will stay the same even if some other nodes softfork/hardfork away

3 sats \ 0 replies \ @Pepperoni OP 14 Nov 2023

Ok ty. This makes sense. Someone was telling me otherwise which made me second guess.

100 sats \ 3 replies \ @Zepasta 14 Nov 2023 freebie

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0 sats \ 0 replies \ @piecover 14 Nov 2023

Great explaination, I couldn't say it better

0 sats \ 1 reply \ @Pepperoni OP 14 Nov 2023

Thanks for the response. I understand that. My question is in regards to how consensus is made on a program change. Is it by nodes or people?

Using your example, Larry wants to change the 21M cap with a hard fork. If he has 51% of nodes and upgrades the program on these nodes, what's to prevent it from happening? I heard that forks were resistant to centralization because this is not how it works and wanted clarity on what unit is being counted in the 51%.

135 sats \ 0 replies \ @Zepasta 14 Nov 2023

If Larry has 51% of Nodes and wants to change de 21M hardcap he is free to do so, the other 49% of nodes will remain on the original network with the 21M cap, the miners will remain on the original network. He would be completely alone on his own network with a unique blockchain (the correct term is timechain) completely separated from the original one, with no miners or users transacting.

Even if somehow 80% of nodes/miners decide to increase the 21M and hardfork, i would just ignore and remain on the original network with the rest of the 20%. Fuck them.