Nano
$6.28 0.97%
NANO · 2w

YouTube Questions

Saw these unanswered questions on a YouTube video, anyone able to address them? “I would like to bring here some points/questions I have (for a long time, really long, since "RaiBlocks" era). Please, for those who are reading, I am putting these points here because I sincerely want to clarify them, my intention is not to seems like a nano-hater or other coin maximalist. I see potential in long term usage for Nano but I'm just not convinced yet. 1) I have seen multiple times animations like the one you used here about fork resolution. The question I always had in mind is that in this animation it's like the 'bad node' tried to make a double spend selecting the same group of nodes. My question is: if a 'bad node' tries a double spend selecting a group A of nodes for the transaction 1 (T1) and a group B of nodes for the transaction 2 (T2), how could this be solved? Once Nano doesn't use a unique common data storage for everyone (like blockchain-based coins), I mean, group A and group B of validators don't know each other, don't have the same information about 'bad node' then how are they be able to avoid a double spend on this scenario? 2) What's the chance of ORV allow a (similar to) 51% attack given the possibility of having a representative with a high power of voting? Personally, this is one thing that scares me about PoS/dPoS coins (I remember Ethereum Classic was attacked and also Justin Sun's move on Tron/Steem...) 3) Once each node is responsible to store it's own data, what ensures that I cannot fake it, for example, modifying my current balance for a higher amount? 4) If I got it right, Nano doesn't store the history of transactions (like BTC for example), instead it just stores the current balance. So, it means the transactions are untraceable, right? 5) In many coins it's possible, via chain analyzers, to check the current circulating supply. I understand it's a good tool to check if no one is faking the informed amount, producing new coins and so on...
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