Proof of Individuality, the New-Age Security on Blockchain
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....
Related News
The security expert said that while PoS isn’t “theoretically” as secure as PoW, he admits it still has “sufficient practical security.” Despite the Ethereum Merge being touted as a major upgrade to the blockchain network, its transition to proof-of-stake theoretically makes it more vulnerable to exploit.Speaking to Cointelegraph, the security researcher explained that unlike proof-of-work (PoW) systems, a proof-of-stake (PoS) system informs node validators in advance what blocks they will validate, thus enabling them to plan attacks. The security expert, who asked not to be named, is a....
The proof-of-work mechanism in Bitcoin provides security which Ethereum has sacrificed for short-term narrative benefits.
In a world barreling onward in the name of efficiency, bitcoin stands out for the purposeful way it's anything but. This 'deficiency' was the focus of many talks at day two of Stanford’s security conference, Blockchain Protocol Analysis and Security Engineering 2017. For all its benefits, the system that secures bitcoin, proof of work (PoW), is estimated to require as much electricity as all of Denmark by 2020, and many researchers see this as a prize problem to solve. But, the bad news is that, so far, it's proven difficult to find an alternative that provides as much security as....
Not that anyone is asking, but Coin Center inserted itself into the debate at hand. Is the Post-Merge Ethereum a security now? Moving from Proof-Of-Work to Proof-Of-Stake without pausing the operation was quite a feat, but it came with a cost. Many things are completely different at this stage, and those new characteristics might put […]
Since Ethereum moved from a proof of work (PoW) to a proof of stake (PoW) mechanism, there has been an ongoing debate on whether the digital asset is now a security or a commodity. Notable figures have shared their insight on this and how the regulatory bodies are actually classifying cryptocurrencies. The latest is Cardano […]