Anobjectivelookintotheimpactsofforkingblockchainsdueto

maliciousactors

AndrewVegetabile

Abstract

Changestoacryptocurrencywhichchangeitsfundamentalnaturecanrequireafork.
Thistermreferstothesplittingoftheblockchainintotwonewchains,oneusingtheprevious
definition,anotherthenewdefinition.Thiscanbebeneficialtoenableacointoovercome
unforeseenchallenges,buthassignificantrisksaswewillexplorefurtherinthispaper.

Introduction

Thispaperwillconsiderthecomplexnatureofforkinganddiscussthephilosophical,
moral,andpotentiallegalconstraintssurroundingforkingablockchaininordertorollbacka
blockchainasaresultofmaliciousactors.Thispaperstemsinitiallyfromadiscussiononthe
feasibilityandbenefits/risksofforkingacryptocurrency.Theinformationcontainedwithinthis
stretchesfarbeyondonecryptocurrency(orcoin)andappliesacrossthecryptocurrency
industryandecosystem.

Manyofthetopicsdiscussedinthispaperareonlytouchedon,andthereissignificant
scopeforfuturepaperstoexpandonthesetopics.Forsimplicitiessake(andtonotturnthisinto
anovel),eachoneisgoingtobedescribedbrieflysothereadercangainanunderstandingof
context.

Thispaperoutlinesargumentsforbothsidesofthediscussion,alongwithempirical
datatosupportthesearguments.Theintentisnotfororagainstrecommendingonecourseof
actionoveranother,butrathertoeducatethereaderinthemanyinstancesofwhenaforkcould
bejustifiedorifthephilosophicalriskscarrytoomuchweight.Regardlesswhatmanymaythink
inthecryptoworld(andbeyond),thereisalmostneveranissuethatisblackandwhite.

Whatisafork?

Whenindividualstalkofforkingacoin,theycouldbereferringtotwoseparatethings.
Thefirstoneisforkingthesourcecodeofacoininordertomodifythedesign,fixabugoradd
inadditionalfunctionalitythatpreviouslywasnotthere(whetherthatisafeaturesuchasextra
security,ormorealongthelinesofmentionedabovei.e.forkingtopreventmaliciousactors).

Nearlyeveryalternativecoin(altcoin,orsimplyalt)inexistenceisacodefork,afork
ofBitcoin,eitherdirectlysuchasLitecoinandNamecoinorindirectlysuchasDogecoinforking
fromLuckycoin(itselfaLitecoinfork).Thisiswellknowntothosewithintheindustry,butitisnt
reallytalkedaboutandisrarelyconsidered.Parameter,algorithm,andnamechangesare
made,andtheindustryacceptsthenewforkassomethingbrandnew.However,technically
speaking,whatthecryptoecosystemreallyhasisanotherrenditionofBitcoin.Intermsofname
changestheycouldeasilybelabeledBitcoinLitecoin,orBitcoinDogecoin,anupdated
versiontotheBitcoinCoreclient.Countertothat,onceaforkedcoin(altcoin)growsa
communityandinternalecosystem,theycouldbeconsideredseparate.Buttheinceptionofsaid
coinstillhasitsrootsfirmlyplantedinthetechnologythatBitcoingavetotheworld.

Intherareinstancesthatcoinsarebuiltfromthegroundup,theyoftenstillutilizethe
blockchaintechnologywhichlaunchedBitcoinsfame(e.g.NXTandEthereum).Assuchan
argumentcanbemadethatthesewereindirectlyforksfromBitcoinbecausetheunderlying
technologyisstillused.Evenwithcodebuiltfromthegroundup,inthegrandschemeofthings
thesecoinswillstillbeconsideredbytheindustryasBitcoin2.0coins,stilllendingcredibilityto
Bitcoin.

Thesecondtypeofforkismoreofamatterofsemantics,inwhichthecodehasalready
beenforkedandnowtheactofgarneringsupportinordertogainequaltoorgreaterthan51%
consensusofthenetworkonthenewlyforkedcode.Thewordforkhasbeenused
synonymouslyinthisinstance,partiallybecauseitisintheauthorsviewthatitmaypotentially
beeasiertowritethecodethentogetworldwideagreementthatthenewlywrittencodeshould
beadopted.

Discussingandtrulyunderstandingtheforkingofacoinisparamounttotherestofthis
paper,whichwilluserealworldexamplesofaltcoinsandthedecisionstoforkornottofork.

PoWandPoS:MinersversusExchanges

Decentralisedcryptocurrenciesrequireaprotocoltobedefinedastohowblocksare
secured,andhownewcoinsaredistributed,referredtoasmining.ProofofWork(PoW)and
ProofofStake(PoS)aretwoofthemostpopulardistributionmethodstoday.Thereisnoperfect
distributionmethodforcoins,andtherearepositivesandnegativesforeachoneofthese
methodsaswellasothers.

1
TheProofofWorkprotocolwasdesignedforBitcoin
,anditrewardsminerswith

generatedcoins,inreturnforthemsolvingmathematicallyhardproblems.TheProofofStake
2
distributionmethodwaslaterintroducedforPeercoin
,anditreliesonthewalletsoftwareto

mineforcoins.InessencecryptocurrenciessupportingthePoSdistributionmethodhavean
optiontolockoutcoinsinthatwallet,andbasedonfactorssuchashowmanycoinsare
lockedandageofcoins,thatwalletwillgeneratenewones.

Technicaldetailsarebeyondthescopeofthispaper,however,botharesusceptibletoa
51%attackontheirrespectivenetworks.However,PoW51%attackscomefromconcentrated
miningpower(jntheformofprocessingpower)wherePoS51%attackscomefrom
concentratedcoinpower(intheformofcoinsowned).

ThismeansthatPoWcoinsrequirethatcontrolofminingpowerisdistributedacrossa
numberofindependententities(miningpoolsorindividualminers).ForPoScoins,the
equivalentisthatcoinsmustbewelldistributed.ForaPoScoin,exchangesaretypicallythe
largestholdersofcoins,andassuchthosecryptocurrenciesmusttrustthatwhenanexchange
listsaparticularcoin,thatexchangehasenoughsecuritysetuptopreventtheftofcoinsvia
hacks.

Thereareclearexamplesofattackssucceedingonbothprotocols.Therehavebeen
severalinstanceswhereattacksonaPoWnetworkhavebeencarriedoutsuccessfullysuchas
3
Whitecoin
,andwhileperformingresearchforthispaper,itwasdiscoveredtherewasatleast
4
onedocumentedcaseona51%attackonaPoScoinnamedCoin2
.

LossofconfidenceEffect

Inthesummerof2014,theDogecoincommunitywasfacedwithapotentiallyserious
issue.ASICshadbeendevelopedforScrypt(thePoWhashalgorithmusedbybothLitecoin
andDogecoin)andwerebeingdeployedinfullforce.Atthattime,thevastmajorityofthis
computationalpowerwasbeingpointedtowardstheLitecoinnetworkwhiletheDogecoin
networkwasreceivingverylittle.TherewerefearswithintheDogecoincommunitythatitwould
besusceptibletoa51%attackoncemuchmorepowerfulASICswereinmassproduction,orif
anexistingminingpoolwashackedanditshashingpowerredirected.

ThisauthorpublishedapaperaddressingtheDogecoincommunity,titledDogecoin:
5
AneducationalpieceonNetworkSecurity
.ThepaperdetailedtheoptionstheDogecoin

communityhadandtheprosandconsforeachoption,ultimatelyrecommendingthatthe
Dogecoindevelopers'leastriskyoptionwastoimplementAuxiliaryProofofWork(AUXPoWaka
mergedmining).

ThepaperalsocoinedthetermTheLossofConfidenceEffect.Essentially,thisterm
iswhatisusedtodescribetheramificationsofa51%attackonacoinsnetwork.Anattackof
thistypeonanetworkcanbedevastatingforthatnetworkonatechnicallevel,buttheaftermath
physiologicallywiththosewhoowncoinscouldpotentiallybemoredevastating.Itisconsidered
thatthecommunitymembersmightaskthemselvesquestionssuchas:

Ifthiscanhappenonce,couldithappenagain?

ShouldIsellnowbeforethevaluegoesdownevenmore?

Everyoneisgettingout,shouldIaswell?

Thesestatementsreflectthelossofconfidenceeffect,wherethecollectivemasses
questionthereliabilityofthecoinsthattheyownandthatcoinsnetwork.Thiseffectcanarisein
othersituationsaswell,suchasforkingacoin.

MintPalandBter.com:Exchangeshacked

OnJuly13th2014,theMintPalexchangewashackedand8millionoftheProofofStake
6
Vericoincurrencywerestolen(roughly30%ofallcoinsinexistenceatthetimeofthehack)
.

Giventhatnotallcoinswillbestakedatanygivenpointintime,thiscouldrepresentover50%
ofallstakedcoins.WithindaysacodeforkwasreleasedbytheVericoindevelopers,whoused
checkpointstoforktheblockchainpriortothehack.Thedevelopersworkedwithexchangesin
ensureadoptionofthenewfork.

th
InadditiontotheMintPalhack,Bter.comwasalsohackedamonthlateronAugust15
,
7
2015
.Inthishack,themaliciousactorswereabletoliberate50millionNXTfromBter.com.

HoweverasopposedtotheVericoindevelopers,theNXTcommunitymadethedecisionnotto
rollbackafterthehack.

Herewehavetwowellknowncoinsandunfortunatecircumstancesfacingboth.These
decisionsarenotthesorttomakelightly,andpresumablythedeveloperscarefullyconsidered
theconsequencesoftheirchoices.Interestinglyenough,thedecisionfromVericoincamefrom
thedeveloperswheretheNXTdecisioncamefromtheNXTcommunity.

Itisatthispointwherethereaderneedstoobjectivelyevaluatethecircumstancesin
eachcase.Thesearetwoseparatecommunities,bothunderthecryptoumbrella,lookingto
achievesuccess.Bolddecisionshadtobemade,andmadequickly.Iftheultimatedecisionwas
toforktheblockchain,itneededtobedoneinatimelymannerinordertominimisecollateral
damagefromthosewhohavesentcoinstoanotherwallet.

Shallasuccessfulcoinlivewiththepossibilitythatabadactorisouttherewithalarge
amountofcoins?Ifthedecisiontonotforkhappens,notonlyistherethefutureriskofa51%
attackbutthereisalsotheriskoflowerpricesfrommaliciousactorsdumpingillgottengains
ontothemarket.Continuingadownwardpressureuntiltheyhaveexhaustedallcoinstheyhave
receivedillegally.Theothersideofconsiderationisthefutureramificationsofrollingbacka
blockchain,crossingtheethicalboundarywherehumaninterferenceinadecentralized
economyshallnotbecrossed.

Inaddition,withinthetimebetweenthehackandtherollback,therecouldhavebeen
manyindividualsthathavesentcoinstootherentities.Ifthesecoinsweresoldforfiat,and

effectivelyreturned,oneofthoseentitieswouldreceiveboththefiatandcoins(thedefinitionof
aphysicaldoublespend).Thesedecisionsarenottakenlightly,andanycointhatfacesa
situationsuchasthis,regardlessoftheoutcome,willwalkawaywithaheavyheartasking
themselvesifitwastherightthingtodo.

LegalRulings

Cryptocurrenciesareaglobaltechnology,stretchingbeyondtraditionalbordersand
countries.HoweverforthepurposesoflegalissuestheUSgovernmentlawsandthoughtswill
beusedsincetheauthorisUSbasedandisnotfamiliarwiththelegalitiesofcryptocurrencies
withinothercountries.

TherehasbeentwoUSFederalinstitutionsthathavereleasedrulingsoncryptos(and
itshouldbeaddedthatthesestatementsarecountertoeachother),FinancialCrimes
EnforcementNetwork(FinCEN)andtheInternalRevenueService(IRS).TheIRStreats

8
cryptosaspersonalpropertyfortaxationpurposes
(March25,2014)
,whileFinCENstatesthat
9
cryptosmuchbetreatedlikemoney(March18,2013)
.Confusingnonethelessfortheindustry

asawhole,itisunderstandablewhyeachentitymadethedecisionsthattheyhavemade
basedontheirscopeofregulatorypurviewandenablingstatutes.

FinCENistaskedwithensuringthatantimoneylaundering(AML)andknowyour
customer(KYC)lawsandregulationsarefollowedbythosedealingwithfiataswellasonly
cryptocurrencies(orastheycalledthem,digitalcurrencies).Itisoftheopinionoftheauthor
thatsincecryptoshavesufficientliquidityandcanbetransferredeasilyinternationally,FinCEN
hasoptedtoapplytheselawstocryptos.Inadditionmanypoliticalfigures,banking
representatives,andotherfinancialinstitutionshavealso(unfoundedly)statedthatcryptosare
utilizedprimarilyforillegaltransactionssuchasfundingterrorism.Thisinturncanbring
attentionsuchasrulingsfromfederalentities.

TheIRSneedstoaccountforincomesuchascryptos,buthowtheygoaboutdoingit
potentiallycouldbeatouchysubject.BesidestheUSCongress,noentityisallowed,bytheUS
Constitution,tocreatelawsgoverningwhatisandisnotlegaltender.TheIRSisauthorizedby
CongresstomakerulesregardingthecollectionandassessmentoftaxationintheUnited
Statesandtheirdelegatedauthorityhasledthemtomakerulesthatdonotalignwithother

federalagencydeterminations.Thiscobwebofsometimesconflictingdeterminationsfurther
confusesbothindustryandindividualparticipantsregardingcryptocurrenciesandtheirlegal
status.Analysisoftheramificationsofthisareanareaforpotentialfuturework.

Withthesetworulings,oneshouldcarryweightmorethantheother.FinCENismerely
applyingexistingfiatlawstocryptoswhiletheIRShasdictatedcryptosareproperty.Therefore,
forthepurposesofthispapercryptoswillbeconsideredproperty.

ConnectingtheDots

Thereareanumberofdisparatebutinteractingfactorsincryptocurrencyeconomics,
fromforkstonetworkattacks,lossofconfidenceeffectsandlegalchallenges.Evaluatingthe
ecosystemisasignificantchallenge,andwithoutablockdiagramtonoticethenuancesofthese
entitiesitsdifficulttounderstandhowtheyareintertwined.

Thisauthorwillpresentanumberofhypotheticalsituationsinordertoshowtheeffect
thattheprevioustopicswouldhaveonsuchanetwork,andwhyitisimportanttoconsiderall
anglesandpointsofviewwhendiscussingcontroversialtopicssuchasthesubjectofthis
paper.

Hypothetical#1

Tostart,considerthefollowingthoughtexperimentyourlocalgovernmenthasdecided
thatBitcoinhasnowbecomesuchasignificantinfluencethatitcannolongerbeignored.In
ordertohelpBitcoin,theyhavedecidedtopurchaseminingpowerinexcessof50%ofthe
Bitcoinnetworktoeliminateriskofmaliciousactorsinfluencingthenetwork.

DisregardingthatBitcoinisaworldwidecurrency,letssayeveryonefallsunderthesame
government.Thisgovernmentcannowdecide,pendingtheabilitytoassessthemeritof
individualtransactions,whichtransactionstoincludeinblocksandwhichonestodisallow.

Further,outhypotheticalglobalgovernmentisntsatisfiedwithhavingthemajorityofthe
network.Instead,theywanttoputintoplaceafewadditionalrulesinordertoensureeveryones
safety.Withcontrollinginterestinthenetwork,thisgivesthemtheabilitytoforktheoriginal

Bitcoincodetotheirownversion.Thisnewversionblacklistscertainaddressesthatthis
governmentmaynotdeemappropriateforgeneralpublicsuchaspornographyorgambling.In
addition,someofthesenewrulesthatareputintoplaceareinessenceasoftwareversionof
laws,dictatingwhatthoseinthecryptoatmosphereshallandshallnotdo.

Sounderthishypotheticalsituation,themassesarestuckbetweenideological
differences.Shouldthemassesadoptthisnewcontrolledandinessencecentralizedcryptoor
shalltheyforkovertoanewcode?Thereisnoescapefromthisnewgovernmententity
becausetheycontrol51%ofmoreofthenetwork,enforcingtheirnewwalletcode.Sodoes
everyonemovetothenewcentralizedcontrolofthisentityordoesamajorityofusersremainon
theclassicforkandriskgovernmentinterventiontomaliciouslyforktheexistingchain?.As
mentionedatthestartofthispaper,thisgivescontextintoforkingandperhapsgoingalongwith
thetrend,BitcoinBitcoincouldalsobeused.Thisisofcriticalimportancetothinkofaforkthis
way,becauseitlendscredibilitytothenewfork.(Keepinmindwhilethescenariomentionsa
government,itisentirelyplausibletoreplacegovernmentwithanotherentitywiththemeansto
dothis,suchasanyindividualpersonlikeBillGatesorRichardBranson,orevenacompany
whomighthavethepurchasingpowersuchasOverstock.)

Itiseasytostatethatonceanentityhasaminingmajorityofanetwork,themajoritywill
adoptchangestheyputforward.Consideringtheothersideoftheargument,theIRShas
explicitlystatedthatcryptosareacommodity.FinCENstatesthatcryptosessentiallyneedtobe
treatedasmoney.SoasfarastheUSgovernmentisconcerned,cryptosarearealthingandno
longerthismagicinternetmoney.Oneargumenthasbeenmadethatregardlessofthecoin
(Bitcoin,Litecoin,Dogecoin,Blackcoin,DASH,etc),itisallnowconsideredtangibleandis
property.Sowhatgivestherightforthoseouttheretosimplyforkovertoanewchainand
potentiallydestroytheabilitytoutilizetheircoins?Thewordsabilitytoutilizeisspecifically
mentionedbecauseaforkdoesnotmeanthedestructionofsaidcoins,wheresomepeoplemay
failtounderstandthis.Itsonlytheabilityofutilizationthatisaffected.

Understandthatthisnewforkdoesnotaffectonlytheentityinchargeoftheprevious
fork.Thisalsoaffectsthosebusinessesandmerchantsthatalsoabidebythesamerulesasthe
originalblockchain.Sonowanewvariablecomesintoplay.Shouldthemassesadoptthefork
withnewrulesthattheypotentiallygoesagainsttheoriginalideologyofcryptos,ordotheyfork
andriskthebackingofbusinessesthatthoseincryptodependonforamediumofutilization?
Thesebusinessesdependonfollowingallapplicablelaws,beitAML/KYClaws,taxlaws,orany
othersthatarepertinent.

Thisexampleistheperfectscenariotodescribearougeblockchain,onethatisminedby
anentity/maliciousactorwhoalsowishestoblacklistaddressesastheyseefitorcontrolthe
network.Thereishowever,theothersideofthecoinsotospeak(punintended).Anewcoin
createdwhichdoesnothaveasignificantmarketcapormerchantadoption,buthasblood
sweatandtearspouredintoitbydevelopersandcommunitymembers.

Hypothetical#2

WearegoingtocallthisothercoinanditsassociatedblockchainNewCryptoCoin(notto
beassociatedwithanyexistingcoin,andasfarasthisauthorisawareofthereisnotacoinby
thatname).Themarketcapisfairlysmall,butthecommunitybackingitissubstantial.Further
thiscoinhasshowntheabilitytoreachouttoaconsiderablelargeamountofnoncryptopeople
andhashelpedadoption.Naturallyaswithanycoin,therearetrollsanddetractors,thevast
majorityclaimingitsjustanotherworthlessaltcoin.

NewCryptoCoinrecentlyranintoanissue,whereitissusceptibletoa51%attack.Havoc
ensuesandtheattackerhasperformedadditionalmaliciousattacksonthenetworksuchas
doublespend.Thisaltcoinisonafewexchangesaswell,andallexchangewalletshavebeen
frozen.Itseemsthatthelossofconfidenceaffecthastakenplace,andmasspanicfollows.

Ignoringanytechnicaldetails,inordertoalleviatethenetworkfromsuchattacks
NewCryptoCoindevelopershavemadetheultimatedecisiontoforktheblockchainandrollit
backtobeforetheattackshappened.Cryptoenthusiastshaveclaimeddoomandgloom,stating
thatforkingtorollbackis
antithetic
totheideaofcryptocurrenciesandthatthiscryptoshould
justdieoff.Asshownabove,Vericoinwassuchacointhatfacedthisunfortunatecircumstance.
Andtodayitisaflourishingcommunityofsupportersanddevelopers(whorecentlyjustreleased
awhitepaperonanewtypeofdistributionmethod).

Sowhatshallablockchaindo?Doesacoinforkforsurvival,ordoesitallowitselftodie
inordertopreservetheintegrityofitself?Doesthepopularityofacoindictateifitshouldfork?
Orabetterquestion,shouldtheunpopularityofacoindictateifitshouldfork?

FinalThoughtsfromtheAuthor

Thelegalissuesarecomplexandsignificant,andlawmakershaveshownthemselves
willingtointroducelegislationinordertopromotetheirownagendaorthatofindustryinterests
(typicallyindicatedvialobbyists).Forallofthoseincryptos,itisourcivicdutytoeducatethose
lawmakersacrosstheworldastraders,miners,businesses,andeverythinginbetween.Weas
acommunityshouldbehavinginformeddiscussions,evaluatingtheimpactsofdecisionsmade
todayandpotentialfalloutinthefuture.Oneofthelargestlegalissuesinvolvedinthispaperis
theimplicationsofforkingandwhatimpactitwillhaveinfuturelegislation.

Detailedpredictionsarebeyondthescopeofthispaper,butperhapslegislationwillbe
targetedtowardsbusinessesandtheirabilitytoacceptcryptos.Inturn,therisksofforkinga
blockchainhasincreasedsogreatlythatitputsthosewithinthecommunityinaposition
betweenwhatpeoplehavedubbedfinancialfreedomandutilizationofcryptosbeyondsimple
persontopersonbarter(asecondaryeffecttoenactedlaws).Ifthedecisionwasmadetofork
withsuchlegislation,theeffectofitcouldpotentiallyripplethroughouttheecosystemandcause
theyearsofhardworktobesetbackintermsofmassadoption.

Itisinthisauthorsopinionthattherearecertainextenuatingcircumstanceswhichdoin

factjustifytheneedtoeitherperformarollbackonablockchain.Ifaneventtakesplacethat
threatensthelivelihoodofacoin,itisperfectlylogicaltoperformsuchactionsinorderto
continuethesuccessofthecoinandtheecosystemsurroundingit.

Further,thisauthoralsobelievesthatthepopularityofacoinisinverselyproportionalto

theaffectsaidcoinhasintermsofnotability.Oneofthelargestargumentsagainstablockchain
rollbackisthatitissacredterritory.Tantamounttogainingattentionofregulatorsinordertogive
themmorefodderinordertoenactnewlaws.Orworseyet,aslipperyslopeinwhichone
developerorgroupofdevelopershavedoneitonce,itwillhappenmoreoften.Howeveras
shownabovetherearehypotheticalsituationswheregroupscouldgetinvolvedwithBitcoin,the
mostwellknowncryptocurrency,andturnthedirectionofitfortheirownpurposes.Thisinturn
couldcauseittomutateitintosomethingunrecognizablebytodaysstandardsandagainstthe
originalpurposethatSatoshicreateditfor.

Iftodayatotalof10peoplehaveheardofNewCryptoCoinandhaveminedthecoin,and

onepersonoutof10decidedtotakeoverthenetworkfornefariouspurposes,howwould

anyoneknowifthedevelopersperformedarollback?Theattentionwouldbeminimalatbest.
MorewellknowncoinssuchasVericoinmayhavecrossedthesocalledcryptoethical
boundarybyforkingablockchain,butwithoutsopotentiallycouldhavedestroyedthecointhat
somanyhaveworkedsohardtocreate.Adominoeffectcouldhaveensuedandcausedmany
withintheVericoincommunitytoabandonship(developersincluded).Thenagain,asthispaper
wasbeingwrittentheVericoindevelopershavecreatedanewdistributionmethodcalled
10
PoST
,whichisattributedtotheoriginalMintPal.Asilverliningintheclouds,whereonce

againthosewithinthecryptocommunitytransformapasttragedyintoapresentboonforthe
collectivecryptocommunities.

Thereiscertainlynoshortageofopinionsinheateddebatesoftopics.Frompoliticsto
religionandeverythinginbetween,itishumannaturetotakesides.Thepurposeofthispaperis
essentiallynottotakesides,butinsteadtodiscussandfocusonpastandpotentialfuture
eventsthatshapethedynamicsoftheindustry.Thedecisionsweasacommunitymaketoday
areboundtohaveaneffectonlawsandthemoralcompassofdevelopersandcommunities.
Havingtheabilitytoconsiderallsidesandthinkobjectivelyiscriticalinordertogrow.Andas
statedatthebeginning,thereisnearlyneveranissuethatisblackandwhitebutthereare
multipleshadesofgrey.

Acknowledgments:
IwouldliketothankRossNicollandRishiNairforeditingthispaperandprovidingreviewer
comments.IwouldalsoliketothanktheDigitalCurrencyCouncilforeditingandhostingthis
paper.

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1

SatoshiNakamoto,Bitcoin:APeertoPeerElectronicCashSystem,

https://bitcoin.org/bitcoin.pdf
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http://peercoin.net/assets/paper/peercoinpaper.pdf
3

TheCryptocurrencyTimes,Whitecoin:Apromisingnewcointhatturnedintoadisaster,

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Bitcointalk,MintPalconfirmsCoin2hack,

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/edit
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Coindesk,8MillionVericoinHackPromptsHardForktoRecoverFunds,

http://www.coindesk.com/bitcoinprotectedvericoinstolenmintpalwalletbreach/
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