How Does “Checkpointing” or “Social Consensus” Mitigate the Long-Range Attack Risk in PoS?
Checkpointing and social consensus mitigate the long-range attack risk in Proof-of-Stake (PoS) by establishing an agreed-upon, irreversible point in the chain's history. Checkpointing is a protocol-level mechanism that hardcodes a block as final.
Social consensus is the community's collective agreement on the legitimate chain. For a long-range attack to succeed, the attacker's chain must be accepted by the network.
By relying on checkpoints and the community's established history, nodes will reject any alternative chain that starts before the agreed-upon final block.
Glossar
Long-Range
Horizon ⎊ Long-Range analysis in derivatives markets involves projecting asset behavior and volatility over extended time frames, typically beyond the maturity of standard short-term options contracts.
Checkpointing
Finality ⎊ Checkpointing is a mechanism in Proof-of-Stake protocols designed to establish transaction finality by creating irreversible points in the blockchain history.
Social Consensus
Alignment ⎊ Social consensus, within cryptocurrency, options trading, and financial derivatives, represents a quantifiable convergence of market participant expectations regarding future price discovery.
Social
Connectivity ⎊ Social within cryptocurrency, options trading, and financial derivatives increasingly manifests as network effects influencing price discovery and market participation.