Castore  DeRose

Castore DeRose

1640663803

What is the Difference Between Proof of Stake vs Proof of Work?

In this post, we'll discuss What is the Difference Between Proof of Stake (PoS) vs Proof of Work (PoW)?

Privacy and security have always been a ground for debates in the crypto industry. Hence, the foundation of a consensus mechanism in the blockchain is important to sustain the network. Ultimately, these consensuses are used to achieve an agreement on a single data value among an array of distributed processes and cryptocurrencies. So, whenever there’s a system failure, a correcting mechanism is thereby correcting the errors. When comparing Proof of Stake vs Proof of Work side-by-side, the difference is pretty obvious.

Today we are all on the verge of seeing the Proof of Stake (PoS) consensus mechanism to revolutionize the existing Proof of Work (PoW). While both of these consensus mechanisms aim to regulate the legitimacy of blockchain’s decentralized public ledger, the PoS believed to be an upgrade. Mainly to circumvent security infiltration issues like a 51% attack. That means the PoS algorithm is more resistant to an attack, and it helps to regulate the issuance of new units of its supply more diligently. The upshot? All of it is happening without the aid of a central party.

So, to help you understand the differences between Proof of Stake and Proof of Work better, we’ll be highlighting the dissimilarities. That includes the mining mechanism, transaction verifications, safety, and more.

What Is Proof of Stake?

The Proof of Stake is an upgraded consensus algorithm primarily to solve problems the current Proof-of-Work is facing, including high electricity costs and security issues. Though both of these algorithms strive to solve the same problem, the process of reaching the goal is relatively different. 

The introduction of PoS is to eradicate the problems Bitcoin’s PoW system is facing. As compared to Bitcoin’s PoW consensus, the PoS aims to stray away from the dependency on computer power to form a well-defined sequence of blocks. So, instead of miners competing against each other to complete a transaction on the network, there won’t be any competition to cherry-pick a person to add blocks.

Ultimately, PoS replace miners with validators to lock up a stake within a crypto ecosystem. Hence, these blocks are referred to as minted rather than mined.

What Is DPoS?

Delegated Proof of Stake (DPoS) is a contemporary consensus mechanism to improve scalability without compromising the incentive structure built on the blockchain. Unlike the conventional PoS mechanism, DPoS allows users to earn rewards and rights for validating a transaction, putting blocks together, through coins staking.

So, if a user fails to verify a transaction, the block will be missed, and the reward is then accumulated for the next witness. In the end, the DPoS strives to boost the overall mechanism’s efficiency and build a more coherent ecosystem. 

How Does PoS Work?

The PoS algorithm is conceptualized based on the arbitrary election processes to select a node as a validator for the next block. Unlike PoW, there won’t be any mathematical puzzles to solve to validate a block in exchange for rewards. Hence, mitigating the energy-intensive mining process.

On the contrary, the PoS system rewards the validators through a transaction fee. So, a user who participates in the forging process by staking a certain amount of coins into the network may get a chance to be picked for forging the next block. For example, if one participant staked five coins while someone else staked 50 coins; naturally, the chosen next block validator is always those with a higher total value staked. In the end, the more you stake, the higher chances you’ll be selected to be the next validator. 

However, the PoS consensus is criticized for its favoritism towards the wealthy. The most affluent will likely be selected by the system, whereas the poor will be discriminated against. Of course, this methodology sparks a debate concerning the partiality led by an unjust system. Hence, the randomized block selection, a coin age selection, and fisherman system came into play to circumvent the flaws.

Here’s the breakdown of these unique integrations:

Randomized Block Selection

This methodology offers a sophisticated logic by combining the lowest hash value on a node with the largest stake size. The randomization helps regulate a healthy ecosystem within the PoS consensus and protect valuable block-forger that appends blockchain blocks.

Coin Age Selection

On the other hand, this selection method relies on the period of the cryptocurrency has been staked. This methodology aims to provide an impartial PoS consensus and prevent the domination of larger staked nodes on the blockchain. That means whenever a node forges a block, the coin age will reset to zero, and there will be a cool-down period to forge a block again. 

Here’s how you calculate the coin age cool-down time:

Coin Age = Number of Staked Days x Number of Staked Coins

For example, if you’ve staked only one coin for 20 days, the coin age is 20, and it’ll reset to zero until you can forge another block again.

Fisherman Regulators

The rules are different depending on each of the cryptocurrency using the Proof of Stake algorithm. Well, the fisherman approach is here to mitigate malicious activities against the validators. When a validator possessed a threat to the network, the validators could risk losing their funds. Besides, the validator can also be blacklisted from being a validator ever again.

However, if nodes decide to stop being a forger, they can withdraw all of the rewards and stakes. That means all of the blocks must be verified and confirm no engagement in any fraudulent activities.

What Is Proof of Work?

This consensus mechanism was introduced by Satoshi Nakamoto alongside Bitcoin in a white paper back in 2008. As a fault-tolerance solution, PoW is used as a cryptocurrency protocol for generating new blocks while maintaining the network through the mining process. In exchange for rewards, miners need to maintain the network by solving intricate cryptographic problems. 

The implementation of PoW aims to decentralize transactions and to eradicate the possibility of double spend aka 51% attack. However, the occurrence remains inevitable. In fact, the attack has happened to Bitcoin Cash and Ethereum Classic multiple times. On top of that, the use of PoW is rather energy-consuming. To add on, the mining hardware for mining is relatively expensive to maintain the system. Hence, the scalability of this setup is questionable. 

How Does PoW Work?

Miners use the PoW protocol in the mining process. So, when someone send a Bitcoin from one to another, a block with a timestamp on the decentralized network will record the transaction. To validate the transaction, miners need to deploy computing power (hash rate) to solve complex mathematical puzzles. To uphold the consensus, the majority of nodes have to agree that the problems have been solved. 

Proof of Stake vs. Proof of Work: The Differences

Privacy and security have always been a ground for debates in the crypto industry. Hence, the foundation of a consensus mechanism in the blockchain is important to sustain the network. Ultimately, these consensuses are used to achieve an agreement on a single data value among an array of distributed processes and cryptocurrencies. So, whenever there’s a system failure, a correcting mechanism is thereby correcting the errors. When comparing Proof of Stake vs Proof of Work side-by-side, the difference is pretty obvious.

Today we are all on the verge of seeing the Proof of Stake (PoS) consensus mechanism to revolutionize the existing Proof of Work (PoWpro). While both of these consensus mechanisms aim to regulate the legitimacy of blockchain’s decentralized public ledger, the PoS believed to be an upgrade. Mainly to circumvent security infiltration issues like a 51% attack. That means the PoS algorithm is more resistant to an attack, and it helps to regulate the issuance of new units of its supply more diligently. The upshot? All of it is happening without the aid of a central party.

So, to help you understand the differences between Proof of Stake and Proof of Work better, we’ll be highlighting the dissimilarities. That includes the mining mechanism, transaction verifications, safety, and more.

What Is Proof of Stake?

The Proof of Stake is an upgraded consensus algorithm primarily to solve problems the current Proof-of-Work is facing, including high electricity costs and security issues. Though both of these algorithms strive to solve the same problem, the process of reaching the goal is relatively different. 

The introduction of PoS is to eradicate the problems Bitcoin’s PoW system is facing. As compared to Bitcoin’s PoW consensus, the PoS aims to stray away from the dependency on computer power to form a well-defined sequence of blocks. So, instead of miners competing against each other to complete a transaction on the network, there won’t be any competition to cherry-pick a person to add blocks.

Ultimately, PoS replace miners with validators to lock up a stake within a crypto ecosystem. Hence, these blocks are referred to as minted rather than mined.

What Is DPoS?

Delegated Proof of Stake (DPoS) is a contemporary consensus mechanism to improve scalability without compromising the incentive structure built on the blockchain. Unlike the conventional PoS mechanism, DPoS allows users to earn rewards and rights for validating a transaction, putting blocks together, through coins staking.

So, if a user fails to verify a transaction, the block will be missed, and the reward is then accumulated for the next witness. In the end, the DPoS strives to boost the overall mechanism’s efficiency and build a more coherent ecosystem. 

How Does PoS Work?

The PoS algorithm is conceptualized based on the arbitrary election processes to select a node as a validator for the next block. Unlike PoW, there won’t be any mathematical puzzles to solve to validate a block in exchange for rewards. Hence, mitigating the energy-intensive mining process.

On the contrary, the PoS system rewards the validators through a transaction fee. So, a user who participates in the forging process by staking a certain amount of coins into the network may get a chance to be picked for forging the next block. For example, if one participant staked five coins while someone else staked 50 coins; naturally, the chosen next block validator is always those with a higher total value staked. In the end, the more you stake, the higher chances you’ll be selected to be the next validator. 

However, the PoS consensus is criticized for its favoritism towards the wealthy. The most affluent will likely be selected by the system, whereas the poor will be discriminated against. Of course, this methodology sparks a debate concerning the partiality led by an unjust system. Hence, the randomized block selection, a coin age selection, and fisherman system came into play to circumvent the flaws.

Here’s the breakdown of these unique integrations:

Randomized Block Selection

This methodology offers a sophisticated logic by combining the lowest hash value on a node with the largest stake size. The randomization helps regulate a healthy ecosystem within the PoS consensus and protect valuable block-forger that appends blockchain blocks.

Coin Age Selection

On the other hand, this selection method relies on the period of the cryptocurrency has been staked. This methodology aims to provide an impartial PoS consensus and prevent the domination of larger staked nodes on the blockchain. That means whenever a node forges a block, the coin age will reset to zero, and there will be a cool-down period to forge a block again. 

Here’s how you calculate the coin age cool-down time:

Coin Age = Number of Staked Days x Number of Staked Coins

For example, if you’ve staked only one coin for 20 days, the coin age is 20, and it’ll reset to zero until you can forge another block again.

Fisherman Regulators

The rules are different depending on each of the cryptocurrency using the Proof of Stake algorithm. Well, the fisherman approach is here to mitigate malicious activities against the validators. When a validator possessed a threat to the network, the validators could risk losing their funds. Besides, the validator can also be blacklisted from being a validator ever again.

However, if nodes decide to stop being a forger, they can withdraw all of the rewards and stakes. That means all of the blocks must be verified and confirm no engagement in any fraudulent activities.

What Is Proof of Work?

This consensus mechanism was introduced by Satoshi Nakamoto alongside Bitcoin in a white paper back in 2008. As a fault-tolerance solution, PoW is used as a cryptocurrency protocol for generating new blocks while maintaining the network through the mining process. In exchange for rewards, miners need to maintain the network by solving intricate cryptographic problems. 

The implementation of PoW aims to decentralize transactions and to eradicate the possibility of double spend aka 51% attack. However, the occurrence remains inevitable. In fact, the attack has happened to Bitcoin Cash and Ethereum Classic multiple times. On top of that, the use of PoW is rather energy-consuming. To add on, the mining hardware for mining is relatively expensive to maintain the system. Hence, the scalability of this setup is questionable. 

How Does PoW Work?

Miners use the PoW protocol in the mining process. So, when someone send a Bitcoin from one to another, a block with a timestamp on the decentralized network will record the transaction. To validate the transaction, miners need to deploy computing power (hash rate) to solve complex mathematical puzzles. To uphold the consensus, the majority of nodes have to agree that the problems have been solved. 

Proof of Stake vs. Proof of Work: The Differences

Today, blockchain technology is revered for being secure. But it doesn’t happen without the significant functions of the consensus mechanism. While both PoS and PoW are devised to tackle the blockchain hacks and frauds, they deviate from one another.

Here’s an overview of its differences: 

Mining Mechanism

The Proof of Stake system is more efficient when comparing it with the PoW mining system. That’s because PoS does not require mining while miners require a colossal of energy to mine a PoW based cryptocurrency like Bitcoin.

With PoS, the mining power is distributed proportionally to the coins a miner holds. It is thereby limiting the mining percentage of a transaction through the ownership of a miner’s stake. So, let’s say a miner staked 10% of Bitcoin, the maximum blocks can be mined is capped at 10%. 

Energy Consumption

Bitcoin has always been the center of attention, including the energy it consumed. With Bitcoin’s PoW system using almost 0.21% of the world’s energy supply, Bitcoin mining is the least environmentally friendly digital asset. Besides, the competitive nature of Bitcoin mining means more computing power is required to sustain the ecosystem.

With the PoS system’s implementation, mining can be replaced with a minimal amount of energy to maintain the system. The upshot? The environment is restored, and the scalability is upheld via community involvement. 

Trustless and Decentralization

The risk of centralization is one of the biggest concerns with the Proof of Work consensus algorithm. Since the PoW mining system is much more reserved for the majorities, this system’s transparency is obscured for the community. When PoW relies only on the majority, it’s moving towards the idea of centralization by granting the possibility of a network or transaction manipulation. 

Proof of Stake, on the other hand, provides a fairer solution through the distribution of authority within the holders and stakers. That means the network control is proportional to how much a participant invests. For example, participant A in PoS invests in 20 coins, and he’ll receive the same amount of power.

However, the same participant invests in 20 coins more than participant B; he’ll be receiving more computation power. As a result, PoS is more transparent since the network is more rigid as compared to PoW.

Safety

Proof of work on Bitcoin may be resilient to a specific attack. But it is vulnerable to potential security risks, including a 51% attack and system instability due to forking.

When a fork happens on a blockchain, the ecosystem is divided. Let’s say a blockchain is forked; miners would need to direct their mining power to the old and newly forked blockchain. Of course, hard-fork means to bring goods rather than harm. Still, splitting the mining power reduces a miner’s crypto mining rate.

However, Proof of Stake is more resilient towards a 51% attack. That’s because it’s even more expensive to execute this malicious attack on the PoS. Though it’s not entirely impossible, as long as the attackers can bear the drastically increased crypto price and gather enough power in a short amount of time.

Reward Distribution

Both the PoW and PoS reward cryptocurrency to the participants who can propose a valid block. However, the PoS system’s reward is proportional to how much a participant stake as collateral to verify a transaction. Still, the size and how long the crypto has been staked play a role in determining who gets to verify a transaction first.

Proof of Stake vs. Proof of Work: The Benefits 

Both of these consensus mechanisms are essential for blockchain. Still, the benefits are different, especially since both of these mechanisms serve another purpose. 

The PoS mechanism is beneficial for the environment as it is less reliant on electricity. Higher collateral requirements and heavier punishments towards a faulty block on PoS also result in a healthier ecosystem, and it’s more sustainable in the long-term. It also offers a fairer mining system with scalable transactions as compared with the PoW. Best of all? PoS steers away from the centralization idea by focusing on an individual’s coin ownership for control delegation.

Proof of Stake vs. Proof of Work: The Risks

Risks of PoS:

  • Complex: Complicated systems with collateral and the retribution mechanism increases the occurrence of errors. Inaccurate calculation of collateral may cause validators to lose all of the stakes.
  • Bias: It is more challenging for average investors to participate since it requires many stakes and time to gain substantial rewards.

Risks of PoW:

  • Double Spend: This happens when an entity reuses the same funds multiple times. It happens when an entity control enough computation power to tamper with the blockchain. An entity can reverse a transaction to create a separate blockchain for illegal crypto double-spending.
  • High Electricity Consumption: Bitcoin mining uses more energy than the whole of Switzerland.

Which Is A Safer Consensus Mechanism?

Many cryptos are still using the Proof of Work consensus, including the titan Bitcoin and Ethereum. However, the Proof of Stake algorithm appears to be safer. That is because it’ll be even more costly to attack a transaction on PoS when comparing to PoW.

In fact, Ethereum 2.0 will be ready to launch with the Proof of Stake model wherein miners are referred to as block validators. Hence, providing a safe blockchain ecosystem for miners and investors. 

Which Crypto Is Adopting Proof of Stake?

The majority of cryptocurrencies today are still using the Proof of Work algorithm, including Bitcoin. However, many cryptocurrencies are transitioning to the Proof of Stake algorithm. That gives different economic benefits to HODLers to run a master node or staking coins in exchange for rewards. Here are some of the cryptocurrencies that are using the PoS mechanism:

NEO: The first Chinese open-source blockchain project allows more than one crypto-token to stake in NEO wallet. Participants earn rewards in the form of NeoGAS with approximately a 2% to 3% annual return rate.

Stratis (STRAT): Staking STRAT in a Stratis wallet can earn you rewards with around 0.5% to 1% annual return rate. 

Nxt (NXT): It is a crypto coin that uses minimal hardware equipment to earn stake rewards. It doesn’t depend on the coin age concept used by other PoS crypto and is much resilient to stake attacks. The annual return rate is around 1.26%.

Tezos (XTZ): Engaging the stakeholders in the network changes through a voting system. Tezos strives to fix governance issues, and stakeholders get staking rewards to keep the system running. The reward returns are around 6% annually. 

Tron (TRX): Tron took off with its decentralized applications and the purchase of BitTorrent and Steemit. Earning passive income from TRX through staking will keep you with around 4% yearly interest. 

Cosmos (ATOM): The staking rewards are the highest, with approximately 8% annual return with Cosmos. Cosmos grew exponentially with over 100 projects worldwide, and even Binance uses their technology to build Binance Chain. 

What Is The Future of Blockchain’s Consensus? 

Though the Proof of Work has been a standard consensus algorithm for many cryptocurrency networks, the PoS consensus is here to revolutionize the existing protocol. The circulation of hybrid PoS and PoW may seem to be an excellent upgrade to compliment each other for their flaws. The adoption of the hybrid mechanism remains unknown. As technology continues to evolve, the blockchain would too. 

#blockchain #cryptocurrency 

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What is the Difference Between Proof of Stake vs Proof of Work?
Abigail betty

Abigail betty

1624320000

What is Proof of Stake? - Earn Passive Income with Staking. DO NOT MISS!!!

Content of this video:
0:58 Decentralized Cryptocurrencies
1:14 Bitcoin Mining
1:47 Proof of Work
2:31 Proof of Stake
2:50 How Does Staking Work?
3:47 Ethereum’s Blockchain
4:06 How to Stake Ethereum
4:48 Ethereum Staking Rewards
5:42 Staking Limitations
6:44 Staking on Exchanges
7:13 Staking Pools
7:47 Validator as a Service
8:12 Conclusion on Cryptocurrency Staking
9:00 Bloopers :)
📺 The video in this post was made by 99Bitcoins
The origin of the article: https://www.youtube.com/watch?v=0RhJBZGnOLQ
🔺 DISCLAIMER: The article is for information sharing. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Not investment advice or legal advice.
Cryptocurrency trading is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money
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Thanks for visiting and watching! Please don’t forget to leave a like, comment and share!

#bitcoin #blockchain #proof of stake #what is proof of stake #earn passive income with staking #what is proof of stake? - earn passive income with staking

Autumn  Blick

Autumn Blick

1598839687

How native is React Native? | React Native vs Native App Development

If you are undertaking a mobile app development for your start-up or enterprise, you are likely wondering whether to use React Native. As a popular development framework, React Native helps you to develop near-native mobile apps. However, you are probably also wondering how close you can get to a native app by using React Native. How native is React Native?

In the article, we discuss the similarities between native mobile development and development using React Native. We also touch upon where they differ and how to bridge the gaps. Read on.

A brief introduction to React Native

Let’s briefly set the context first. We will briefly touch upon what React Native is and how it differs from earlier hybrid frameworks.

React Native is a popular JavaScript framework that Facebook has created. You can use this open-source framework to code natively rendering Android and iOS mobile apps. You can use it to develop web apps too.

Facebook has developed React Native based on React, its JavaScript library. The first release of React Native came in March 2015. At the time of writing this article, the latest stable release of React Native is 0.62.0, and it was released in March 2020.

Although relatively new, React Native has acquired a high degree of popularity. The “Stack Overflow Developer Survey 2019” report identifies it as the 8th most loved framework. Facebook, Walmart, and Bloomberg are some of the top companies that use React Native.

The popularity of React Native comes from its advantages. Some of its advantages are as follows:

  • Performance: It delivers optimal performance.
  • Cross-platform development: You can develop both Android and iOS apps with it. The reuse of code expedites development and reduces costs.
  • UI design: React Native enables you to design simple and responsive UI for your mobile app.
  • 3rd party plugins: This framework supports 3rd party plugins.
  • Developer community: A vibrant community of developers support React Native.

Why React Native is fundamentally different from earlier hybrid frameworks

Are you wondering whether React Native is just another of those hybrid frameworks like Ionic or Cordova? It’s not! React Native is fundamentally different from these earlier hybrid frameworks.

React Native is very close to native. Consider the following aspects as described on the React Native website:

  • Access to many native platforms features: The primitives of React Native render to native platform UI. This means that your React Native app will use many native platform APIs as native apps would do.
  • Near-native user experience: React Native provides several native components, and these are platform agnostic.
  • The ease of accessing native APIs: React Native uses a declarative UI paradigm. This enables React Native to interact easily with native platform APIs since React Native wraps existing native code.

Due to these factors, React Native offers many more advantages compared to those earlier hybrid frameworks. We now review them.

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Fannie  Zemlak

Fannie Zemlak

1596009600

A Technical Q&A on Network Partition Attacks

**_Cryptocurrencies are prone to many different types of attack. As Bitcoin is over 11 years on the track, we know and were facing many different attempts on breaking its security. One of them is network partition attack._**

But what about the Proof-of-Stake algorithms? Have they solved some of the vulnerabilities of Bitcoin and its Proof-of-Work algorithm?

Cryptocurrency protocols implemented as a top layer of TCP/IP stack in the so-called application layer. It can be said that cryptocurrencies directly use the entire TCP/IP infrastructure. If someone has control power over this

infrastructure, they can hurt all application protocols. This is a general

threat of all cryptocurrencies.

A few weeks ago, after I started my path as an Algorand ambassador, I had an opportunity to interview the leaders of Algorand foundation, Silvio Micali and Massimo Morini.

I asked them different kinds of questions including some more technical ones about network partition attacks, which interest me. Then I decided to go deeper into this topic.

In my eyes, Algorand stands right in the middle of the blockchain trilemma triangle, when the scalability and security are not taking anything from a decentralization degree. Later on, in the article I try to compare Algorand’s solution with another blockchain project, which seems to be very far with their development, Cardano. But my first look will go to Bitcoin and its approach to the protection from network attacks.

What is a network attack?

So, what the typical network attack is?

Any decentralized system is susceptible to a network attack in which an adversary targets the communication links between users, making it difficult or impossible for users to interact. An adversary could partition the network into isolated pieces, so that members of one piece can only communicate with each other but not with members of other pieces. During a network partition, the network is completely asynchronous and the adversary has total control over who receives which messages and when. If the partition lasts long enough and the underlying blockchain didn’t take this into consideration in its design, then the adversary may be able to convince different groups of users to accept different blocks at the same height in the blockchain. As a result, contradicting transactions will be accepted by different users, allowing the adversary to double-spend their money.

Bitcoin and network attacks

Let’s firstly look upon Bitcoin and its solution on network attacks.

At a high-level, Bitcoin is a randomly-established peer-to-peer network composed of thousands of nodes and tens of thousands of connections which rely on flooding to propagate transactions. As an attacker, being able to prevent the spread of information in such a network seems unrealistic, if not impossible. Bitcoin is surprisingly centralized from an Internet routing perspective: 20% of the Bitcoin nodes are hosted in less than 100 IP prefixes. To put this in perspective, there are close to 600,000 IP prefixes advertised in the Internet today. At the same time, few well-established ISPs (e.g. Hurricane Electric) naturally see a large fraction of the Bitcoin traffic. Together, these two characteristics make large-scale routing attacks surprisingly practical.

Because of its centralization, partitioning the Bitcoin network and isolate 50% of its mining power only requires a small routing attack, one which is orders of magnitude smaller than the attacks routinely seen in the Internet today. Any malicious ISP with access to the Internet routing infrastructure can perform this attack which starts to be effective after only few minutes (according to our own measurements on the live network). Any ISP transiting Bitcoin traffic can delay the propagation of mined blocks (for up to 20 minutes), in a stealth way, even if she sees one direction of the traffic.

Partitioning attacks

With partitioning attacks, an attacker aims at splitting the Bitcoin network into (at least) two disjoint components such that no information (e.g. transaction) can be exchanged between them. To partition the network into two components, a network attacker intercepts all the traffic destined to all the Bitcoin nodes contained within one of the component and drops any connection to the other component. To intercept traffic, a network attacker relies on vulnerabilities in the Border Gateway Protocol (BGP), the only Internet routing protocol used today, which does not validate the origin of routing announcements. These attacks, commonly referred to as BGP hijacks, involve getting a router to falsely announce that it has a better route to some IP prefix. By hijacking all the IP prefixes pertaining to the nodes in one component, the attacker can effectively intercept all the traffic exchanged between the two components. Once on path, the attacker can sever all these connections effectively disconnecting the two components. An animation of the attacks can be found on our website.

Illustration of how an AS-level adversary (AS8) can intercept Bitcoin traffic by hijacking prefixes to isolate the set of nodes P = (A, B, C, D, E).

The extreme centralization of Bitcoin from an Internet viewpoint makes partition attacks particularly effective as few IP prefixes need to be hijacked. Indeed, our measurements show that 50% of Bitcoin mining power is hosted in only 39 prefixes (i.e., in 0.007% of all Internet prefixes). This allows an attacker to isolate ~50% of the mining power by hijacking only these 39 prefixes. Much larger BGP hijacks (involving orders of magnitude more IP prefixes) are routinely seen in the Internet today.

By partitioning the network, the attacker forces the creation of two parallel blockchains. After the attack, all the blocks mined by the side with the shorter chain will be discarded together with all included transactions and the corresponding miners’ revenues. Moreover, discarded transactions will be irrecoverably canceled if there exist other transactions in the prevailing branch of the chain which spent the exact same Bitcoins (conflicting transactions).

#network-partitioning #algorand #cardano #proof-of-work #proof-of-stake #pure-proof-of-stake #blockchain-security #bitcoin-interview

Alice Cook

Alice Cook

1614329473

Fix: G Suite not Working | G Suite Email not Working | Google Business

G Suite is one of the Google products, developed form of Google Apps. It is a single platform to hold cloud computing, collaboration tools, productivity, software, and products. While using it, many a time, it’s not working, and users have a question– How to fix G Suite not working on iPhone? It can be resolved easily by restarting the device, and if unable to do so, you can reach our specialists whenever you want.
For more details: https://contactforhelp.com/blog/how-to-fix-the-g-suite-email-not-working-issue/

#g suite email not working #g suite email not working on iphone #g suite email not working on android #suite email not working on windows 10 #g suite email not working on mac #g suite email not syncing

Xfinity Stream Not Working?

Xfinity, the tradename of Comcast Cable Communications, LLC, is the first rate supplier of Internet, satellite TV, phone, and remote administrations in the United States. Presented in 2010, previously these administrations were given under the Comcast brand umbrella. Xfinity makes a universe of mind boggling amusement and innovation benefits that joins a great many individuals to the encounters and minutes that issue them the most. Since Xfinity is the greatest supplier of link administrations and home Internet in the United States, it isn’t amazing that the organization gets a ton of investigating and inquiry goal demands on its telephone based Xfinity Customer Service.

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