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How about a scenario where a few miners change their protocols by setting difficulty to something easy. Let's take it to the extreme and say they are able to accept any block.
They would keep publishing blocks which they think are valid and those would get rejected by the network. What if more miners start joining that scheme though (by changing their protocols)?
Because they are able to publish blocks extremely quickly (because they set their difficulty low) they might actually be able to compete with the whole network and their branch might overtake the network branch even if they are not that many of them.
What am I missing here?
That is a very good point, thanks. How about other changes to the protocol? For example something minor. Is it possible that most miners have made some changes to it but the network simply doesn't know because from their point of view everything is normal? In other words, is there any consensus mechanism for the protocol? (I haven't come across anything like that reading around) – tsotsi – 2017-06-18T22:14:02.843
1What you are describing here is a soft fork. A soft fork is something that changes the consensus rules without breaking backwards compatibility. These forks only require miners to upgrade, whereas any other consensus change requires everyone (nodes, wallets, etc.) to upgrade. However soft forks are limited in what they can do as they must be backwards compatible. They can only make something that was previously valid, invalid. – Andrew Chow – 2017-06-18T22:18:33.447
1@tsotsi If miners produce blocks that violate consensus rules, their blocks are ignored by nodes. Is there a consensus mechanism for the protocol: yes, politics. – Pieter Wuille – 2017-06-18T22:19:16.283
@AndrewChow Is it a correct statement to make "the longest chain(with the most blocks) must have the highest PoW backing it" because other forks violating the current difficulty parameters will not be compatible with the existing chain – sanket1729 – 2017-06-19T05:47:22.047
@Sanket Kanjalkar Yes – Andrew Chow – 2017-06-19T06:34:49.340