Can A New Method for Monitoring Blockchains Stop Sybil Attacks?
A group of researchers has proposed a new way to more closely monitor the behavior of nodes that relay information on a blockchain network. Published by academics at Zhejian University, the National University of Singapore and Tianji University, the paper, the authors believe, could one day help ease cybersecurity issues around the tech. Within the context of bitcoin, nodes store the network’s transaction history, maintaining and sharing information about the blockchain with connected peers. Yet any peer-to-peer system faces unique kinds of cybersecurity concerns, including Sybil attacks,....
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Proof of Individuality protocol is designed to prevent Sybil attacks on peer-to-peer network based computer reputation systems. The virtual world is full of threats; Sybil attacks make a sizeable chunk of it. Especially with the increasing implementation and usage of peer-to-peer networks, the network infrastructure lies more exposed to such attacks than ever. Cryptocurrencies also use a form of peer-to-peer network, which naturally puts them on the list as well. The magnitude of threat is now being countered by the development and implementation of anti-Sybil protocols. Proof of....
On this episode of The Van Wirdum Sjorsnado, the hosts discuss Erebus Attacks and how Bitcoin Core's ASMAP can counter it. The post Video: Erebus Attacks And How To Stop Them With ASMAP appeared first on Bitcoin Magazine.
"Illegal or criminal activities are likely to flourish in the darkverse since it will be difficult to track and monitor," says Trend Micro. In a new report published by American-Japanese cybersecurity company Trend Micro, the firm says that the metaverse possesses increasing vulnerabilities that could materialize within the next three to five years.As told by Trend Micro, the top threats to the realm, mainly from a regulatory standpoint, include NFT security concerns, the development of a "Darkverse" similar to the dark web, financial fraud, privacy concerns, physical threats, AR threats,....
Despite the inordinate amount of resources needed to engineer them, small-cap cryptocurrencies are still susceptible to a 51% attacks. Despite being underpinned by blockchain technology that promises security, immutability, and complete transparency, many cryptocurrencies like Bitcoin SV (BSV), Litecoin (LTC) and Ethereum Classic (ETC) have been subject to 51% attacks several times in the past. While there are many mechanisms by which malicious entities can and have exploited blockchains, a 51% attack, or a majority attack as it is also called, occurs when a group of miners or an entity....
Feathercoin, the new Scrypt-based coin based on Litecoin, suffered a widespread attack over the weekend, leaving its founder scrabbling for fixes. The method for the assault was a 51-percent attack, which occurs when someone gains enough hash rate to create his or her own blockchain. This gives the attacker the ability to bring the authority of the original blockchain into question, and creates "orphan" blocks in that blockchain. It was the latest in a series of attacks against the coin, said Peter Bushnell, the UK-based founder of the altcurrency - but this one was different. "I saw this....