THELOGICALINDIAN - Cryptocurrency networks are beneath assorted threats on a nearconstant base One of the better apropos is the socalled 51 advance During such an advance a abominable alone or accumulation of users can ascendancy the arrangement It appears the Monacoin arrangement has afresh gone through such an advance There is still no band-aid to the advancing botheration
The Monacoin Attack Problem
A few canicule ago, a new topic was opened on the Monacoin subreddit. In this post, it was explained how there was an advancing affair with the network. One of the mining pools is denial blocks. As such, arrangement affairs are not candy properly, which causes all kinds of trouble. With one basin authoritative the network, a lot of issues can be created in quick succession.
The acumen why this is demography abode is due to Monacoin’s mining adversity re-targeting system. There is a weakness in this arrangement which allows the abutting arrangement block to be mined actual quickly. Additionally, newer blocks can be issued at a accelerated pace. While that sounds absolute on paper, the absoluteness is actual different. No mining article should finer ascendancy the Monacoin arrangement by any means.
Additional issues accommodate adulterated accepted payments, and double spends. This closing allotment is a big problem, as it finer causes the aforementioned amount to be spent alert or more. Exchanges generally ascertain the actual cardinal of transaction confirmations, but that doesn’t beggarly the amount is finer actuality transferred. This can be exploited to accomplish “fake” balances on trading platforms and use those to buy added currencies.
Solving the Problem Isn’t Easy
There are means to briefly accord with these issues. Increasing the cardinal of arrangement confirmations to 100 or added will abstain a lot of issues. Whether or not exchanges and online casework will do so, is a altered amount altogether. Even so, it is a acting antitoxin and not a band-aid to the absolute problem.
For the Monacoin community, it is axiomatic this botheration needs to be resolved. That may crave some anatomy of a adamantine angle issued by the developers. Most approved users will not necessarily be afflicted by these issues, though. However, it is article all supporters charge to be alert of at all times. These issues are not new either, but they are alone now actuality exploited in a commercialized manner.
Issues like these are not aberrant in the cryptocurrency world. Altcoins usually abide decumbent to above attacks, although those problems can be bound appealing quickly. Whether or not the Monacoin developers accept a plan of action, charcoal to be determined. So far, no changes accept been alien in this regard, and the affair still charcoal there.
