SECURITY SEEN FROM THE BLOCKCHAIN PERSPECTIVE, CASE OF ATTACK 50% + 1
hive-167922·@madridbg·
0.000 HBDSECURITY SEEN FROM THE BLOCKCHAIN PERSPECTIVE, CASE OF ATTACK 50% + 1
<center><img src="https://images.hive.blog/DQmYf4Cw6LBhLPdmThXXpwYRPUJArFQ8vj9PKyUm9G4K9An/portada%20nueva.png"/></center> <p></p> <blockquote><center> Author: @madridbg, through Power Point 2010, using public domain images. <a href="https://pixabay.com/es/illustrations/blockchain-seguridad-cuadra-3047153/" rel="noopener" title="This link will take you away from steemit.com"> Gerd Altmann </a></div></center></blockquote></div> <p></p> <hr /> <p></p> <div class="text-justify"> Greetings and welcome dear readers of this prestigious platform and especially to all those users who make life in the @leofinance community who have been characterized by the approach of economic and technological content associated with the world of blockchain. </div> <p></p> <div class="text-justify"> Therefore, through the following installment we will be addressing blockchain security, as well as some vulnerabilities presented by this decentralized system. So, we will start by establishing that the Blockchain, is a large, master, decentralized, transparent and immutable ledger, which allows us to perform transactions between people without the use of intermediaries. </div> <p></p> <div class="text-justify"> In this sense, it is usually thought that there are no vulnerabilities in this inventive technology, however, the reality is different and cybercriminals always manage to try to breach security and try to generate some interest or economic benefit through these, such as the usurpation of personal data and obtaining cryptoassets in our accounts. </div> <p></p> <center><img src="https://images.hive.blog/DQmTRNAArmxCEWzXZnzXDNcHtTZCoM2hjFCuvNqj492d7hJ/imagen%202.jpg"/></center> <p></p> <blockquote><center> Fig. 2. Blockchain Vulnerabilities. Author: <a href="https://pixabay.com/es/illustrations/blockchain-datos-mano-registro-5173445/" rel="noopener" title="This link will take you away from steemit.com"> Megan Rexazin</a></div></center></blockquote></div> <p></p> <div class="text-justify"> Among some protocols that have been implemented in order to generate chaos among users, we can highlight the processes developed on the Botnet network and the protocols of the 51% attack, where we will focus our attention, so that we can understand the scenario of the attack and what we can do to avoid being affected by it. </div> <p></p> <center><img src="https://images.hive.blog/DQmTfA9UdM5wVkqRi7xjk1RGEB4LxXRiTfi3Yu8GpcBgZnH/separador.png "/></center> <p></p> <center><h2><strong> HOW THE 50% + 1 ATTACK WORKS </strong></h2></center> <p></p> <center><img src="https://images.hive.blog/DQmTfA9UdM5wVkqRi7xjk1RGEB4LxXRiTfi3Yu8GpcBgZnH/separador.png "/></center> <p></p> <div class="text-justify"> In order to understand this attack in detail, let's imagine that we have a company formed by shareholders, where a part of the shares (50% + 1), is owned by a single entrepreneur, it is understandable that this person is responsible for making important decisions in the company. </div> <p></p> <div class="text-justify"> Now, if we extrapolate this scenario to the blockchain world and a single entity, person or organization were to take over 51% of data computation in a specific asset, this could control much of the decision making that was previously shared, which would end up generating a kind of centralization that would go against blockchain principles. </div> <p></p> <div class="text-justify"> In this sense, the assets that present the greatest vulnerability are those based on consensus transactions, which are based on being able to verify and ensure the integrity of the data by the network participants. </div> <p></p> <div class="text-justify"> Under this scenario, the most harmed are the large mining farms, as well as investors who bet on a project based on decentralization, where they compete to generate a greater amount of computation to achieve compliance with the economic aspects involved in the mining of an asset, i.e., purchase of equipment, payment of electricity services, among other aspects necessary to carry out this economy. </div> <p></p> <center><img src="https://images.hive.blog/DQmTGBLeDUqW7gJP1yHZPT2pj1vyhqxTpERcZXWbNpToFGB/imagenn%203.jpg"/></center> <p></p> <blockquote><center> Fig. 3. Centralization of the chain generates chaos and inequality. Author: <a href="https://pixabay.com/es/illustrations/blockchain-dinero-cadena-bloque-3157131/" rel="noopener" title="This link will take you away from steemit.com"> mohamed Hassan</a></div></center></blockquote></div> <p></p> <div class="text-justify"> Once the 51% is controlled, it is usually passed to the double spending attack, which generates real damage to the system, since digital criminals are able to duplicate real transactions, which would increase the number of circulating coins and ultimately affect the economy of the same, this is achieved because each coin has a digital record that can be duplicated and counterfeited. </div> <p></p> <div class="text-justify"> Consequently, it creates alternative branches of fraudulent blocks that end up reaching even the same point or destination, so that now the mining is focused on the fraudulent branch and if continued would be wider than the true branch or economy of the project. </div> <p></p> <div class="text-justify"> It would certainly be an overwhelming scenario, where all of us users who make life on the blockchain could be affected, in this sense, this post has been descriptive in nature and I would like to know your perspective on the 50% + 1 attack. </div> </div> <hr /> <center><h2><strong> BIBLIOGRAPHY CONSULTED </strong></h2></center> <center><img src="https://images.hive.blog/DQmTfA9UdM5wVkqRi7xjk1RGEB4LxXRiTfi3Yu8GpcBgZnH/separador.png "/></center> <p></p> <div class="text-justify"><strong>[1] Eric Piscini (Deloitte U.S.), David Dalton (Deloitte Irlanda) and Lory Kehoe (Deloitte Irlanda).</strong> Blockchain & Cybersecurity.<a href="https://www2.deloitte.com/content/dam/Deloitte/pe/Documents/risk/Blockchain&%20CiberseguridadESP%20(1).pdf " rel="noopener" title="This link will take you away from steemit.com"> Article: Online Access </a></div> <p></p> <p></p> <div class="text-justify"><strong>[2] Blockchain Threat Report.</strong><a href="https://www.mcafee.com/enterprise/es-es/assets/reports/rp-blockchain-security-risks.pdf" rel="noopener" title="This link will take you away from steemit.com"> Article: Online Access </a></div> <p></p> <hr /> <center><h2><strong> OF INTEREST</strong></h2></center> <center><img src="https://images.hive.blog/DQmTfA9UdM5wVkqRi7xjk1RGEB4LxXRiTfi3Yu8GpcBgZnH/separador.png "/></center> • <center> The design of the portal was made by @madridbg, using public domain images</center> <hr /> <center><img src="https://images.hive.blog/DQmWbvSgF29qPm4bTDfz7dJ4fBzLk7G8jomKcXV6fJt1tYg/logo%20bernardo%20nuevo%20este.png"/></center>
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