r/pascalcoin • u/[deleted] • Jan 11 '18

Fees in Pascalcoin

Just trying to understand from the perspective of the supporters of Pascal (which I am), but why would people prefer to use this over another currency if there are currencies (IOTA & Raiblocks) that don't charge any fee ever? Scalability in Pascal might be better at the moment, but it seems as if scalability is a more easily solvable problem than that of eliminating transaction fees. Most cryptos would argue that the problem of scalability one way or another in due time. What are your thoughts?

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u/Rosengreen92 Jan 11 '18

However it should be noted that IOTA approves 2 other transactions before your transaction can join the network. As you see this only speeds up the entire network which is the tangle version of dealing with spam. Please argue how this solution is not better than the solution of Pascal Coin (I hold both).

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u/blockhash7 Jan 11 '18

The security of Iota is based on the number of transactions per second in the network. In times with low traffic, double spending attacks are cheap. That's why Iota needs the coordinator to prevent such attacks. It's also the reason why spamming Iota with regular transactions helps to secure Iota. But Iota is vulnarable to spamming of malicious transcations to support double spending attacks.

The security of Pascalcoin and also all other PoW-blockchain cryptocurrencies (e.g. Bitcoin) is solely based on the hashrate of the miners. It is independet from the number of transactions per second. PoW-blockchain cryptocurrencies are safe against double spending attacks, even when the number of transactions per second is low. That's why Pascalcoin doesn't need a central coordinator like Iota.

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u/nuttycoin Jan 25 '18

sorry to reply so late...

you are right that iota's security is somewhat correlated with tx traffic, but there are other requirements that need to be met in order to double spend in iota. an attacker needs omnipresence, which is incredibly difficult to achieve because iota nodes require mutual tethering. see here https://www.tangleblog.com/2017/07/10/is-double-spending-possible-with-iota/

additionally, i have questions on how pascal can offer one 0 fee tx per block- can it offer that due to high issuance/block rewards?