Jared Tate & Charlie Lee are *both* right!

So how are they both right?

Well, Jared has stated that the security from being MultiAlgo combined with DigiShield protects them against a sudden influx / outflow of hash power, not to mention safety from all the (say) SHA256 hash power in the world being thrown at DigiByte. The attacker would only get 20% of blocks if they had more than 50% of the hash power of an algorithm such as SHA256. They would be unable to perform a double-spend attack.

What Jared has been stating on Twitter

But what about what Charlie stated for Litecoin?

Well, he’s also correct.

Charlie Lee’s comments on Twitter

So they’re both right?

Yes.

But which is more secure?

Personally I think you need both aspects. (It’s a real good way for me to sit on the fence here)

How does DigiByte fit into this then?

Well DigiByte has the dominant hash power globally on 3 of the 5x algos (Qubit, Myr-Gr & Skein), and not just by a small margin either according to todays stats at whattomine.com/asic :

So do DigiByte / Litecoin need to be concerned?

Security is always an on-going concern, however, at this point in time the chances of either blockchain suffering a double-spend attack are incredibly slim.

What now then?

There’s been a lot of back and forth, a lot of needless aggression that’s simply not helpful in any way, shape, or form. I would suggest there is no need for any animosity here, and there are bigger and more pressing problems that face the crypto community as a whole.

The offer has been put out there! :)

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Josiah Spackman

Josiah Spackman

679 Followers

I write interesting things about cryptocurrency, especially DigiByte