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Congratulations to Kareem Jackson on being named the AFC Defensive Player of the Week
Does dPoW Prevent 51% Attacks? Komodo Thinks So
In the last few months a new threat is rising – 51% attacks. Luckily, only small cryptocurrencies have been targeted so far. Some of the more popular names that have subjects to 51% attacks are Electroneum, Verge, and Bitcoin Gold. Though such attacks are unlikely to ultimately steal gross sums of money, the developers are working on security measures that may prevent future hacks. 51% attacks are hard to perform in the first place, as they require the bad actors to control at least half of the mining power of a certain network for some time. In addition, so far the community has always caught such events quite fast, meaning the pricey stunts did away with just a few pennies.
How small-cap tokens operate and how to protect them?
Usually, less popular altcoins rely on proof-of-work protocols. This makes individual networks vulnerable to attacks as the ones that took place in the previous months. The most important question is how to secure these networks. Komodo suggests that delayed proof of work (dPoW) might do the trick. Though this is not an original idea, by all means, it is deployed in just a handful of altcoins. Furthermore, Komodo team insists this feature is not that hard to deploy in already existing networks at all. However, there is a catch. You should pay Komodo for it. For the price of 100 KMD (roughly $250), every single altcoin can get protection against 51% attacks. Needless to say, nobody knows if the Komodo-developed solution works on every scale. After all, it is not popular, meaning it may have its security flaws. Another question that arises is whether Komodo is doing right to charge for something that is usually open source. Komodo is definitely deploying interesting ideas in the otherwise conservative blockchain world. It strives to provide better liquidity for altcoins that are not listed by the commercial exchanges through atomic swaps. The idea is to enable the token transfers from one blockchain directly to another. This omits the need for exchanges in general. Still, only time will tell whether atomic swaps and dPoW can solve part of the problems associated with low-hashrate altcoins. Read the full article
via IG:nfl
