How the BSV Protocol Revolutionises Blockchain Security using POW
By Harry - Crypto Specialist
Bitcoin SV has reportedly created a more secure Blockchain for trusted Bitcoin investors to help minimise and avoid dishonest actors when crypto selling. Occasionally there will be those who try to control the system, but BSV has found a solution to help keep Bitcoin investing fair and secure for honest miners.
While many bad actors run the race to pull off a successful 51% attack on a Blockchain network, BSV has other ideas in mind when looking at Proof-of-Stake (POS) and potentially implementing this. Some bad actors have fallen into false assumptions that larger chains like Bitcoin have a more secure network than Bitcoin SV, while others will learn the protocols first before deciding to initiate a POS attack, which will rely on a weak subjectivity model of the value loss to be successful.
Due to the proponents of Bitcoin SV believing that the original Bitcoin protocol is ‘highly flawed’, they decided to not take on its original structural approach and instead put in place safeguards. Meaning in practice there would be a complete lack of sense to attack the system. By using a Proof-of-Work (POW) system, it relies on an objective expenditure of capital as the hash power required to complete a 51% hack is paid in Fiat.
Essentially speaking, dishonest actors must first examine the cost vs return to land a successful 51% attack on the blockchain. Not to mention, they would have to add to the increased loss per block of revenue forfeit. This means they would have more to lose when carrying out a POW attack than a POS.