Anyone have thoughts on the Spacement white paper? Particularly the part where they mention BURST:
"The most notable security issue with Burstcoin is time-memory tradeoffs: a miner doing just a little extra computation can mine at the same rate as an honest miner, while using just a small fraction (e.g., 10%) of the space."
See the end of page 4 and also end of page 26 thru 28:
https://eprint.iacr.org/2015/528.pdfThere also mention some other problems related to verification and nothing-at-stake or grinding. Seems like these guys are the real deal, half of them from MIT.
Edit: Also, is v1.2.3 still OK to use?
I believe this vulnerability is known and the very reason BurstDev worked on what became known as PoC2, which would address this problem. PoC2 was, however, never implemented before he stoped developmental work. As I understand it, the new team is aware of the weakness and that a "PoC2" will be presented later. This is, however, not confirmed but just my guesses from communication with various people.
Whether the weakness is true or not, it must be stated that it still is possible to make a decent profit from regular hardware with BURST.
That particular weakness doesn't actually exist in BURST, however, there is a potential issue we've found, though I don't find it worrysome...
That being said, that is one of the things that is addressed in PoC2.
Also, before anyone asks, yes, you can mine on GPU, no, it doesn't make sense either.
Any so-called 'issue' with the current algo, I do not believe to be viable enough to cause an issue, as it simply isn't cost-effective... This, by no means, doesn't mean we're not addressing it.
The way PoC2 will function, is completely different in that particular aspect. The current algo is solid in every aspect, only thing that anyone has ever brought up is disbelief in the fact that GPU and ASIC mining isn't viable, but according to anyone who has tested it, a high end GPU can only mine equivalent of 35GB or so of HDD space.
But do not worry, HDD mining is here to stay, and every potential issue brought up will go through proper scrutiny, as it should with any software, and a solution will be brought to the table.
