8

Vitalik Buterin writes:

Assuming ~20% participation in PoS and current prices, you could stall or break the network at a cost of ~$7 million. However, unlike PoW, recovery is simpler: Ethereum just hard-forks to delete the ether of the malfeasors (if /u/vladzamfir does his job correctly, all currently online nodes may even be able to coordinate on this automatically) and moves on.

If such a hardfork would happen, would a Slock.it lock easily be able to go along to the new fork or could it stay stuck in the old chain?

  • I think you'll have your answer soon... – Nicolas Massart Jun 19 '16 at 21:18
2

As long as the client is updated there won't be a problem. Just as with browsers and mobile devices – upgrades are important to ensure the security of the system. The Internet in your area could go down as well, so, as far as locks are concerned, that's going to depend on code more than the blockchain.

  • How does the trust work for the lock? If there's a central authority who can simply update the code of the lock then what's the point of handling it's ownership decentrally? – Christian Feb 14 '16 at 15:57
  • I think that's a question for the slock.it folks. The best presentation I've seen on this is Nick Szabo's at DEVCON1, if you can find that on youtube. It's unrelated to ethereum or slock.it but he describes a system for smart locks. – nessence Feb 16 '16 at 3:19

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