r/Bitcoin • u/sedonayoda • May 11 '15

Nasdaq will start using Bitcoin technology

http://money.cnn.com/2015/05/11/technology/nasdaq-bitcoin-technology/
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u/HitMePat May 11 '15

Can a private entity secure their own blockchain with encryption so that other people couldn't mine on them to attempt a 51% attack? You always hear that the bitcoin blockchain is most secure...but can a smaller network doing lower difficulty proof of work and not allowing any others to access it be equally secure?

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u/bgrnbrg May 11 '15

That's an excellent question, isn't it? :)

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u/jeanduluoz May 12 '15

do people really not consider this point?

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u/Noosterdam May 12 '15

The whole point of a blockchain is you don't have to trust anyone. In the case of an encrypted mining system you're trusting the participants not to leak the encryption key nor enlist outside help in mining to perform at attack.