Mark Mason
Well-known member
Monacoin Suffers Selfish Attack, Highlighting Importance of Incentives
A recent selfish attack on Monacoin, a cryptocurrency developed in Japan, caused around $90,000 in damages
A selfish attack involves a miner successfully mining a block, but not broadcasting discovery of the new block to the network. Then the same miner works on finding a second block before every other miner and, if successful, links the second newly discovered block with their first secretly discovered block. If done correctly, the miner has effectively created a branch in the network, where their branch is the longest, and thus valid chain. This also invalidates all transactions processed on the shorter chain’s blocks since the time of when attacker’s chain was hidden.
Read more: https://www.dashforcenews.com/monacoin-suffers-selfish-attack-highlighting-importance-of-incentives/
A recent selfish attack on Monacoin, a cryptocurrency developed in Japan, caused around $90,000 in damages
A selfish attack involves a miner successfully mining a block, but not broadcasting discovery of the new block to the network. Then the same miner works on finding a second block before every other miner and, if successful, links the second newly discovered block with their first secretly discovered block. If done correctly, the miner has effectively created a branch in the network, where their branch is the longest, and thus valid chain. This also invalidates all transactions processed on the shorter chain’s blocks since the time of when attacker’s chain was hidden.
Read more: https://www.dashforcenews.com/monacoin-suffers-selfish-attack-highlighting-importance-of-incentives/