All other cryptos are a fantasy and cannot provide any comparable guarantees.
All other cryptos are a fantasy and cannot provide any comparable guarantees.
It happened multiple times that a longer change was discoed shortly after. So in reality you have to wait some blocks to reduce the risk of a longer chain to almost zero.
Also the trust you missed is that you have to TRUST that at least 50% of the work is produces and controlled (pool owner) by honest humans, because if not they could collude and re-org/double-spend. which essentially means you will pick the wrong chain because they make you think its the longest while secretly mining a longer chain that will eventually repalce the once you picked. There is absolutely no way you would know before its to late so you blindly trust that from an unknown number of people the majority is honest.
If you take mining pools into account you trust a hand full of people who control them.
>All other cryptos are a fantasy and cannot provide any comparable guarantees.
Obvious nonsense, other tech has defined finality. Not pick the longest and if a longer shows up later you switch. These systems provide MORE guarantees.
You're trusting an awful lot of assumptions much more complex than 'the longest chain is right'.