Hi, just to make sure i get it right, regarding

Question

Hi, just to make sure i get it right, regarding

how the network is secured and would prevent a 51% attack (67% in casper's case afaik), could an admin confirm the following :
- If i needed to "hack" the consensus protocol, i'd have to own at least 67 nodes in the current configuration, that would all need to win their bids at each era, and therefore stake enough coins to achieve this;
- This would require to buy at least 67% of all the staked supply, which is more than the circulating supply.. so trying to buy that amount would lead to a massive increase in value, which make it worthless to try to hack
- The protocol, by adapting the APR, always makes sure there is enough staked value to make it worthless trying to hack
- And finally if someone is wealthy and crazy enough to do it, once hacked all the value used for hacking is lost, as a hard fork would allow to quickly restart in the state before the attack ?

#blockchain #casper #cryptocurrency #english

0

18.03.2022

6 ответов

20 просмотров

Jeroen Abel | Shark Media | Shark Media

I'll get back to you on this, Bleezar.

0

18.03.2022

Ojimadu

Yes, to "hack" the network, you'll need to secure atleast 67% of the stake cspr to achieve that. By incentivising Validators and delegators, the protocol makes sure that there is large enough stake to make it prohibitively expensive to carry such attack. If someone is wealthy and crazy enough to do it like you said all value would be lost and honest validators would fork the network from the last known honest block height.

0

18.03.2022

Medha | CTO Non-asker of coin

Hi there - You are close! For a safety fault, the attacker needs to get 67% of stake in the network (by acquiring CSPR). You are also correct, that circulating supply is less than 67% (because the holders have never moved the CSPR out of genesis wallets). No need to get control of 67% of nodes for a safety attack. The attacker would need to spin up a validator node and stake it. The attack would be visible to the community in the validator ranking.

0

18.03.2022

Medha | CTO Non-asker of coin

It is possible for the community to rally and execute a hard fork to restore the system if this very unlikely attack happens

0

18.03.2022

Bleezar Автор вопроса

Medha | CTO Non-asker of coin
It is possible for the community to rally and exec...

Thanks Medha 👍

0

18.03.2022

Muhammet KARA Kara · Accepted Answer

Muhammet KARA Kara

Not an admin, but... The scenario you have explained seems correct. Though, the concept of 51% attack doesn't make much sense for Casper network. The attack makes sense for the PoW networks where you "hack" the network with computing power. Here, computing power doesn't mean anything. And if you buy 67% of the tokens on the network, then you literally own it. There is no hacking. :)

0

18.03.2022

210 похожих чатов

Hi, just to make sure i get it right, regarding

6 ответов

Похожие вопросы