Is Delayed Proof of Work the Answer to 51% Attacks?
Earlier in October, an ethical hacker who goes by the handle GeoCold on Twitter announced the live-streaming of a 51% attack on the alt coin Einsteinium. The plan was to gain control of the network and expose vulnerabilities that exist in conventional proof-of-work blockchains which allow for double-spending attacks. Only it didn’t go quite as planned.
The reason is Einsteinium’s use of delayed proof of work (dPoW) which is actually a blockchain invention from Komodo that can give any chain Bitcoin level security for a tiny cost. A simplified version of the process would be to say that with each BTC block (roughly every 10 minutes) Komodo creates a checkpoint. If someone end up attacking one of these small coins, they'll have to complete their attack under 10 minutes or the attacked chain could simply start from the last checkpoint.
There is more discussions in the article and I believe Komodo to be one of the best projects i the crypto-sphere and it i also a very scalable system. Apart from variations of DPoS, Komodo has the best blockchain scaling I know of.
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Hahaha. You're keeping me informed on all sorts of interesting things. Where do you find this stuff anyway?
It's the results of being a full time researcher with no real job. I easily spend 12 hours learning and researching all sorts of topics. the hardest part is selecting few enough things to share without ending up looking like I'm trying to spam the network.
Komodo ah?
It is a great idea, the best option out of POS.