It works more like loaning money and then receiving interest, except you are loaning crypto to the network and then you get it back, plus some, after a certain period of time
ConnecticutKen
joined 1 year ago
This would just create a fork in the blockchain where 51% of the network doesn't match the correct state of the blockchain that the 49% have. The 49% would effectively stop working because they could never validate the transactions that the 51% takeover has falsely created. The node operators of the 49% of the network would need to reach consensus for how to deal with the problem, but essentially they would just adopt code that ignores the 51% data, so they could continue to process blocks of transactions. Without manual intervention the 49% would be frozen. The 51% is just fake, they haven't really changed anything because every real node operator would know it's false data.
Is it easier to establish a source of trust? With blockchain trust lies in the protocol and in the node operators who make decisions about how to operate their nodes. Running a node isn't extremely difficult. Running a financial institution is difficult.
Edit- Wrench was right all along, they are very good at researching, probably very intelligent too
But in NFTs the picture is not on the Blockchain. Only a link to the picture is on the Blockchain and the picture itself is still just on the web.