Difficulty Spikes Attack And It's Mode Of Operation On The Blockchain

Source

INTRODUCTION

The blockchain technology, which definitely holds the status of being the most secure and technologically advanced and adaptable digital network over the past decade however, with its robust security protocols and innovative features such as decentralization, security, and transparency, the blockchain still faces constant attempts to compromise its security and diminish its reputation.

The blockchain technology as well as its network faces these threats and attacks from enhanced and newly developed digital attacks one of which we will be considering today and that attack is known as the difficulty spikes attack, which basically operates ny manipulating the mining process so as to disrupt the function of the blockchain network.

Therefore, in this post of mine, I am going to be discussing and explaining some of the different significant operating techniques of the difficulty spikes attack on blockchain networks, further shedding light on the tools and mechanisms which they possess impacts, and how it impacts the overall security of the blockchain network.

MANIPULATION OF HASH RATE

A coordinated manipulation of hash rate is basically the first operating technique of the difficulty spikes attack which I will be discussing today, this kind or mode of attack occurs practically when a group of block miners or maybe a large mining pool comes together, collaborating working together to temporarily cause and trigger an increase in the network's hash rate.

Basically, this surge or sudden increase in the use of the blockchains computational power, leads to or triggers the algorithm and program in the blockchain technology that is meant to manage the blockchain's mining difficult either to increase or decrease it once the stated terms and conditions or agreement are met.

Additionally, when the blockchain network's mining difficulty increases, the coordinated miners will then withdraw their extra computational resources, and as a result leaving the network is a manipulated state of high mining difficulty, and as a result undermining the reliability and efficiency of the blockchain network.

LAUNCHING DIFFICULTY BOMBS

Source

Launching difficulty bombs, it is some how related to the previous paragraph, difficulty bombs basically refers to the pre programmed increases in mining difficulty embedded and pre within people, within some blockchain protocols, like Ethereum, these bombs are basically designed to make mining progressively harder, encouraging the transition to new protocols or updates.

Therefore, attackers can launch and execute these difficulty bombs by strictly watching and timing the actions and activities in the blockchain network to happen the same time with the bomb's activation time and in that way they will be able to artificially increase the hash rate just before a difficulty bomb, and as a result causing a sudden change in difficulty and significantly slowing down the network.

EXPLOITATION OF TIME WARP

Exploitation of time warp is basically another operating technique where by miners of the blockchain manipulate and alter the timestamps of blocks basically for the purpose of indirectly manipulating and influencing the network's difficulty adjustment algorithm to either increase or decrease so as to favour them.

Additionally, by creating blocks with inaccurate and altered timestamps, attackers can deceive and manipulate the blockchain network into believing that blocks are being mined either more quickly hence causing an increase in mining difficulty or slowly and causing a decrease in mining difdiculty.

Furthermore, this manipulation can lead disruptions that basically destabilizes the proper and effective operation and function of the blockchain network which can further lead to the facilitation of other forms and types of attacks against the blockchain network.

FLASH MINING

Flash mining basically involves a sudden, massive surge and influx of hash rate into the blockchain network for a very short period and no doubt this sudden surge will have impacts the most significant of these impacts being the difficulty mining algorithm will be manipulated and force to react and in so doing increasing the mining difficulty.

Additionally, once the mining difficulty is adjusted, the attackers can then now go on to cease their operations, and basically leaving the network suffering or dealing with falsely triggered mining difficulty level, which will basically reduce the overall efficiency and performance of the blockchain network.

Source

CONCLUSION

In conclusion, I would like to use this opportunity to roundup by basically saying a very big thank to everyone of my fellow steemians who have taken the time and made the effort to read and go through this post which I have made, and I hope that you have been able to learn something new as I have explained and discussed the different operating techniques of the difficulty spikes attack to the blockchain network.