FAQ: Diving Deeper into Blockchain - Adding More Blocks

This community-built FAQ covers the “Adding More Blocks” exercise from the lesson “Diving Deeper into Blockchain”.

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This exercise can be found in the following Codecademy content:

Introduction to Blockchain

FAQs on the exercise Adding More Blocks

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what if majority of participant is dishonest? is that the end of reliability on Blockchain or is there any solution for it?

That is a common question in blockchain spaces, though a good one. You have to assume that at least 50% of the nodes, PoW mechanisms, etc are honest and that it will run accordingly. If a majority of the participants are dishonest and choose to do something criminal/unethical, it’s most likely that the currency they’re using as an economic incentive…will be devalued immensely.

That in and of itself provides an economic disincentive to not screw up what they have going.

That being said, it still is a worry, but that happens when you give power back to the people or even to a select few. You’re betting that the majority of people are good and that they can be trusted more than a select few powerful individuals.

Hit me up if you have any questions or just would like to chat.