Ethereum will make a 51% attack useless
The founder of the Ethereum platform, Vitalik Buterin, proposed a new version of the consensus algorithm that will protect the network from attacks even with only 1% «honest» knots.
He recently posted article, in which he explained that by adding independent observer nodes that actively monitor the consensus, and not just download the results, the fault tolerance of the system can be increased up to 99%. This means that in order to carry out a successful attack, the attacker will need to control 99% of the blockchain nodes instead of 51%..
This algorithm was invented by the scientist Leslie Lamport in 1982, it is his solution that Vitalik Buterin plans to adapt to Ethereum. It is assumed that the new type of nodes will monitor the network in real time, identifying inconsistencies. Frauds differ from ordinary transactions in the speed of their execution, which gives them.
The platform developer Konrad Barski explains that now the algorithms only care about the process of the miners, and Vitalik suggests observing them from the outside in order to timely identify repeated messages and 51% attack attempts. After the plan is implemented, the Ethereum blockchain may become the most secure distributed network.
So far, the project representatives do not even talk about the approximate timeframe for the implementation of the new idea, but in any case, it can be expected not earlier than the transition to PoS. Note that this will lead to a decrease in the reward for closing a block from 3 to 0.6 ETH.
Improving security is a very important factor in the adoption of cryptocurrencies, as they have an increasing impact on our lives..
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One example is the recent decision by the State of Ohio to legally enforce blockchain data..
text: Ivan Malichenko, photo: Dmytro / Adobe Stock