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Jameson Lopp Reveals Dangerous Bitcoin Attack Scheme

Jameson Lopp Reveals Dangerous Bitcoin Attack Scheme

HappyCoinNewsHappyCoinNews2024/10/23 06:51
By:HappyCoinNews

Founder of Casa Jameson Lopp опубликовал a post in which he described a dangerous attack scheme on the Bitcoin network called a “slow block validation attack.”

According to the expert, such an attack poses a serious threat to the integrity of the network and can be quite effective. What is its essence?

The mechanics consist of creating blocks that are excessively difficult to validate, which will force other miners to spend more resources and time on checking them. Due to this, a time gap will be created, and the attacker will gain an advantage over other network participants.

Previously, Bitcoin network developers have repeatedly warned about such threats, which is why they insist on small block sizes. At the same time, the analyst is confident that even if an attack is carried out, it will not cause an immediate catastrophe, and miners will only validate block headers, leaving the body with transactions for later.

Even if the attacker does not become the dominant miner, his actions will reduce the network's throughput several times, the space for transactions will decrease sharply, and, accordingly, commission fees will increase, the analyst believes.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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