22% Attack And It's Mode Of Operation On The Blockchain Network

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Introduction

I don't know if you all know this but the blockchain network is big on the idea that security of the network and integrity of its data and method of operation is determined and ensured by the network being decentralized and that no one individual has an authority so significant that he or she is able to manipulate the network.

From this idea alone arises two threats and potential attacks to the blockchain network, that is the 51% attack and the 22% attack, I will be focusing on the 22% attack, this is a type of attack where one individual has a significant control of the network's hashing power which is less the 51%.

Although the 22% attack is not as severe as the 51% attack it can still be disruptive to the networks functionality, in this post of mine I will be explaining and discussing some of the mode of operation of the 22% attack on the blockchain network.

• Forking And Double Spending

One way or mode in which the 22% attack is carried out or operates is by basically allowing the attacker the power and authority to create forks in the network and to also facilitate another attack which is the double spending attack.

Through a 22% attack an attacker creates a fork of the network by basically performing or carrying out mining activities on a fake or forked chain and then inteoducing the private chain into the network after a designated amount of time by doing so invalidating transactions on the public chain and replacing it with the private chain.

And when it comes to carrying out a double spending attack through the 22% attack, all the attacker has to do is simply to make any desired transaction on the public chain and then introduce a longer private chain, this will cause a reversal of their tokens which they can spend again and again.

• An Eclipse Attack

The Eclipse attack, is one of mode of operation of the 22% attack, it can also be said to be type of Network Partitioning attack, it is basically a cryptographic attack that operates by isolating certain nodes or group of nodes and practically having control of how these nodes view the blockchain.

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Haven read what an eclipse attack is, it is time to learn how it is carried out through a 22% attack, here, the attacker basically uses the control he has over the networks hashing power and computational resources to have or attain full control over the activities and access of certain nodes or group of nodes.

Therefore, by basically using his authority in the network to disrupt the access of certain nodes in the network, the attacker can also basically prevent these nides from performing their tasks of ensuring consensus and validating transactions hence, destroying the decentralized nature of the blockchain networks.

• Undermining Consensus

The Consensus, which is basically the act of nodes of a blockchain network comes to an agreement about the state of the blockchain network and the validity of transactions, just like decentralization is another feature and aspect of the blockchain networks that ensures and determines the security of the network and integrity of its data.

One way in which the 22% attack can be propagated is by basically disrupting the consensus that exists amongst the different nodes of a blockchain network, this can be done by creating similar competing chains and strategically spreading information to certain nodes and not to the others.

Therefore, by doing this in the blockchain network, the attacker would have been able to cause confusion by spreading two different or conflicting information to the nodes of the network concering the blockchain network hence making it very hard for this nodes to come to an agreement and attain consensus.

• Reducing Network Difficulty

In a network that uses or implements the proof of work consensus mechanism it is a well known fact that the mining difficulty of the network is adjustable and as a matter of fact it is programmed to adjust constantly at an equal rate or level over a designated or stated time.

Therefore with that been said I would proceed by saying that one of the mode of operation of the 22% attack is basically reducing the difficulty level or rate of the network, through the 22% attack, the attacker has enough computational resources and hashing power to influence the protocol that determines the difficulty adjustments

The attacker basically does this by strategically stoping the validation of certain blocks on the network and releasing certain ones by doing the attacker can manipulate the difficulty adjustment protocol to reduce the network difficulty and as a result reducing the block rewards for other miners in the network.

Conclusion

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In conclusion, I hope that after going through this post of mine you all have been able to learn a few things like the different mode of operation of the 22% attack and some of their effects on the blockchain network.

For the purposes of refreshing the memory these mode of operation of the 22% attack include the following; reducing network difficulty, undermining consensus mechanism, forking and double spending and an eclipse attack.

Some of these significant roles that the cryptocurrency plays in an economy undergoing hyper inflation include; increasing financial inclusion, serving as a store of value, providing access to global market and serving as a medium of exchange.