Talking about attacks that could potentially disrupt #MetaHash operation we should mark one of the most popular threats — the so-called 51% attack.
It is a blockchain “offense” when one user or an entire organization can control network hashing. Such actions can disrupt the system, change the history of old transactions, and stop confirming new ones. In addition, a 51% attack would allow hackers to spend the same coin several times (it’s called a double transaction). These changes will make the network unusable, so, the threat of such an attack is considered one of the most serious.
Stake majority in a single possession. 51% attack
Risk type: Strategic.
Probability: Low.
Risk of consequences: High.
Risk Control: In the #MetaPoS consensus subsystem, if hackers want to get the network larger share they need to control more than 90% of the system simultaneously on several layers. Such an attack is extremely hard to synchronize — as soon as the network node signals that it’s captured, it loses the Trust value and can be supported only by other invaded nodes.
Let’s imagine that 90% of our network have concentrated in the same hands. Then #MetaGate clients reject the blocks retroactively and stop trusting the compromised nodes. This will split the system effectively. Since clients using the network are its most valuable part, possessing 90% of control gives only the ‘dead’ part with no clients. While the remaining 10% of users will become the holders of 100% coin in the new network.
Next time we will discuss the network protection against abuse of developers’ authority during the system launch. We remind that you can always find more information in our White Paper and Yellow Paper, as well as ask the administrators of our Telegram channel.
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