After two attacks 51% of the blockchain Ethereum Classic during the week, the developers of Ethereum discussed ways of dealing with this. The discussion focused on the vulnerabilities Ethereum Classic and potential integration of additional security measures so that hackers couldn’t do that with the Ethereum. That’s how it was.
Recall that in the attack on Ethereum Classic the unknown hacker managed to carry out double-spending in the network Aldona. The total income from the first attack amounted to more than $ 5 million, while its cost cost the attacker a little more than 192 thousand dollars. The second attack brought the crooks the equivalent of 1.68 million dollars.
In the end, the actions of hackers became the reason so-called reorganization of thousands of blocks. It turns out that miners mined blocks was recognized as a wrong, and the true became blocks, was found a fraud. So many hours of work of owners of computer equipment thwarted by that also affected the income of the owners of the cards.
Yet, it was unclear whether the second attack on the blockchain ETC handiwork of the same attacker, or did some other hacker. Events have become one of the most discussed in the cryptocurrency community. They also caused a great resonance within the team Ethereum, which tried to hold preventive measures against the recurrence of such unfortunate incidents.
How to protect Ethereum
To understand how to protect Ethereum, we recommend that you first read about the attack 51 percent and different kinds of blocks Aldona. In short — this event allows the hacker, who previously scored more than 51 percent of the power of online cryptocurrency, to create a longer block chain. Is its long been properly identified by the network as "true", that is, the hacker will be able to "fake" blockchain.
To avoid this, the developers of Ethereum proposed to introduce the concept of checkpoints in the blockchain. When they are reaching the height of the blocks all of the potential changes to the blockchain to the checkpoint will be rejected by network nodes. Accordingly, to reorganize thousands of blocks on the example of events in Ethereum Classic will not work.
Here’s a video interview with the developers. We recommend you to see if you know English. This will help you better understand what is happening in the niche of the cryptocurrency.
Client developer Geth Peter Sledge noted that the software of the network nodes already rejects any changes deeper than 90 thousand units produced , or about two weeks. However, in Ethereum Classic such a function still would not save the blockchain: the hacker was able to achieve the reorganization of approximately 4,000 units, which is much less than the above mentioned limit.
We will remind, Ethereum Classic suffers from the attacks of 51 is not the first time. Due to past attack by hackers , the exchange had to raise the number of confirmations required for transactions with ETC.
Perhaps the Airwaves and don’t need serious measures to protect the blockchain — this is the opinion of Tim Bako, a developer from company PegaSys. According to him, the cost of attack 51 on Ethereum Classic is much lower than in the case of Ethereum, reports Cointelegraph.
We checked the actual data. Indeed, according to the information resource Crypto51, one hour of the attack 51 percent for Ethereum will cost the hacker a minimum of 325 thousand dollars, whereas Ethereum Classic, this value ranges from 5.6 thousand dollars.
What is especially important: all the necessary computing power to attack Ethereum Classic (247 percent) is on the NiceHash service, that is, it can be leased at any time by anyone. In the case of Ethereum, everything is different: because cryptocurrency dominates the algorithm of mining Ethash, and its Hasrat much more on NiceHash typed, except that 4 percent of the necessary attack power.
At the end of their discussion, the developers came to the result that the potential upgrades Aldona will discuss in the future, however, there is no additional protection measures to take will not. It is quite logical — the attack 51 percent of the Ethereum requires enormous computing power and huge investments. That is its holding with high probability not cost-effective.
We believe that the risks of an attack on Ethereum due to the size of the network is really small so to worry about. In addition, the cryptocurrency will be even more secure after switching on Ethereum Proof-of-Stake. Recall, now the attack 51 percent hacker would have to have more than half of the computing power of the network. And in the case of PoS to attack will have to buy more than half of all coins in circulation, which significantly reduces the risk activity scams. Read more about the transition to an updated version of the Ethereum read in a separate article.
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