Recently, Dash Foundation founder and CEO Ryan Taylor was interviewed by Bloxlive.tv. He spoke about the new Chainlocks protocol, which can eliminate the likelihood of an attack of 51%.
One of the biggest risks for the Proof-of-Work blockchain is the so-called 51% attack. If a subject controls more than half of the mining power in a particular network, he can reorganize the blockchain at his discretion. This will allow you to spend tokens twice and assign yourself a significant amount of cryptocurrencies, even before the attack is detected.
Bitcoin (BTC) and other large crypto networks are relatively resistant to this type of attack, since the cost of obtaining more than half of the mining capacity will outweigh the potential profit. Small crypto networks with less mining power are more vulnerable to such attacks, as we know, at the beginning of the year, Ethereum Classic (ETH) underwent such an attack.
Recently, the Dash (DASH) team took steps to ensure that the blockchain is less at risk of an attack of 51% than BTC.
The new Chainlocks protocol uses long-lasting Masternod Quorums (LLMQ), which form an additional layer of “control points” that checks the blocks after they are more quickly mined.
400 randomly selected nodes will vote on each block to see if it is valid. To add it to the network requires 60% approval. This verification process, which takes about an hour on the BTC blockchain, will occur in a matter of seconds.
According to Taylor, “the cost of an attack on the Dash network for an hour is not just renting a certain hashrate, as is done for other cryptocurrencies. At the same time, you should control 20-25% of the issue of coins, only after that you can try the invasion. This can make Dash the safest cryptocurrency, surpassing Bitcoin itself. ”
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