Cardano Not Susceptible To “Fake Stake” Attacks, Unlike 26+ Other Proof-Of-Stake Cryptos (investinblockchain.com)
The vulnerability allows a network attacker with a very small amount of stake to crash any of the network nodes running the corresponding software, hence the name “Fake Stake” attacks.
The cryptocurrency known as Cardano is one of the few proof-of-stake cryptos that have published a blog post regarding these “Fake Stake” attacks and declared they are not vulnerable to this type of attack.
According to the researchers, the proof-of-work cryptocurrencies susceptible to Fake Stake attacks are those based on chain-based PoSv3.
This has proven to be problematic because some of the design ideas are copied over insecurely and lead to new vulnerabilities such as Fake Stake attacks.
“Essentially, work because PoSv3 implementations do not adequately validate network data before committing precious resources. The consequence is that an attacker without much stake can cause a victim node to crash by filling up its disk or RAM with bogus data. We believe that all currencies based on the UTXO and longest chain Proof-of-Stake model are vulnerable to these Fake Stake attacks.”
While many popular proof-of-stake cryptocurrencies are vulnerable to Fake Stake attacks, this type of vulnerability is not found on Cardano.
“Cardano is secure against fake stake attacks because it’s based on a fundamentally different system. PoSv3 cryptocurrencies run on proof-of-work systems, modified to take stake into account in the implicit leader election, and the vulnerability in question is a result of that modification, and the additional complexities it involves.”
Original post reduced by: 55%
Read the full story here.
Related story: How Hackers Stole $1.7b Crypto In 2018 (newsBTC.com)
Support Our WorkWhy support us? We work 24/7 to provide simple summaries of the latest cryptocurrency news and developments from across the web. Crypto-News-TLDR relies entirely on contributions from readers to stay independent. BTC ETH XMR IOTA AION Alternatively, support us by using the following referral links: Exchange: Binance | Hardware Wallet: Ledger Browser: Brave | Free Bitcoin: Coinbase
Donate Bitcoin to this address
Scan the QR code or copy the address below into your wallet to send some Bitcoin
Donate Ethereum to this address
Scan the QR code or copy the address below into your wallet to send some Ethereum
Donate With MetaMask
Donate ETH Via PAY With Metamask
Alternatively, support us by using the following referral links:
CN [too long; didn’t read]
Summarised crypto news.