False
Discussion
The PEG Out „mechanism“ is stupid like hell and make it easy for miners to steal coins if they want to.
BIP300 is nothing more than bringing the shitcoin casino to Bitcoin.
Also BIP300 is limited to 256 Chains. It’s like nothing 🤷🏻♂️
It’s the stupidest BIP I’ve ever seen!
How do the miners steal ? Give a precise technical explanation .
They can use the peg out mechanism which is no secure way to get your coins the bip300 is more like a trust me bro transaction.
When two large mining pools vote for a peg out no one can block it if they have 51% of the hash rate.
When less than 50% of the miners support a specific chain a peg out is not even possible.
Also bip300 leads to mining centralization. Because you have to validate the sidechains. That’s not possible for small miners.
As I already said, it’s complete bullshit!
Miners can't vote to peg out
Sounds like you haven’t understood how the peg out system will work with bip300 🤡
You should support it harder 😂😂😂
How do miners vote to peg out ? I asked for a specifics.
Their vote is a POLL vote to confirm the peg out which is initiated by the side chain.
NOT ON whether or not the peg out is made, or goes through.
If a peg out fails, nothing is lost or stolen. The transactions are bundled and tried again.
What do you mean by chain ? You mean a specific chain history on the sidechain ?
Miners don't select those.