Yesterday Dexaran delivered a presentation on the solution to the Ethereum Classic ETC community. The goal is to be able to prevent 51% attacks from happening in the future. The presentation was made a week after Cadano IOHK introduced its checkpoint proposal. Dexaran more specifically uses the IOHK Crowdcast channel for its competitor solutions.
This new proposal is based on the assumption that many 51% attacks involve so-called 'Demon Mining'. That is an attacker in isolation will secretly mine a longer chain branch. This technique was used in a recent attack on ETC that cost OKEx $5.6 million.
The proposal hinges on the premise that well-meaning miners are unlikely to advance chains that require deeper network reorganization. Usually honest forks involve one block or sometimes several blocks. Meanwhile, Dexaran, a presenter, said:
"What this proposes is that there can't be a better reorganization in a hundred blocks."
Difference with IOHK Cardano
One of the main claimed advantages of this solution is that it requires very little code which can be implemented quickly. Another advantage is that it has been implemented by several other projects. In addition, the Dexaran team believes that their solution can be a stepping stone to the IOHK checkpointing solution, which takes more time because it is complex. Dexaran also asked if the solution could prevent 51% attacks whether the IOHK solution is still needed. Then answered:
“We are confident because this is a proven solution and is a tested solution and is very easy to implement. We believe this will only give us the time needed to be able to implement more complex solutions such as the checkpoint system that is being proposed.”
The solution proposed for Cardano is that there will be several checkpoints before an action is taken. This is expected to prevent attackers from carrying out a 51% attack. Because each post will carry out a strict inspection. This solution is claimed to be applicable to Bitcoin as well. 51% attack prevention will continue to be improved considering that there has been an event that caused a large loss.
Tag :
ethereum classic prediction
ethereum news
ethereum classic price history
ethereum classic price prediction 2021
ethereum classic reddit
crypto news ethereum classic
is ethereum classic a good investment
ethereum classic highest price ever
No comments:
Post a Comment
Note: only a member of this blog may post a comment.