Gladius & Hacken Partnership - Save the Internet Initiative
We are excited to announce a research partnership with Hacken to investigate attack vectors against Bitcoin and other cryptocurrencies that use a Proof of Work consensus algorithm for verifying transactions. This international collaboration brings together the teams of two cybersecurity focused blockchain companies to investigate the intersection of these two spaces.
Hacken Ecosystem is a community-based business organization consisting of the several components: the HackenProof bug bounty marketplace, Zero-day Remuneration Platform, Hacken Accelerator and Cybersecurity Analytics Center. Hacken’s mission is to develop a white hat cybersecurity community that will become one of the main driving forces deterring and countering international cybercrime.
Gladius and Hacken both share the goal of enabling developers to protect their users from cyberattacks by providing services purchased using ERC20 tokens built on the Ethereum blockchain — Gladius uses the GLA token in its marketplace for content delivery and DDoS protection services while Hacken uses the HKN token within its cybersecurity ecosystem.
For this partnership, we have produced a report titled The Rush for Hashpower, which will be published very shortly. The report accomplishes two key goals: providing high level explanations of various potential attacks, and considering the risk of these attacks occurring in the Bitcoin network today.
First, the Gladius and Hacken teams explain several attacks that a malicious actor may try to use against the Bitcoin network. This includes Censorship Attacks to dictate what transactions are allowable, strategies to gain abnormal profits like Pool Cannibalization and Block Withholding Attacks, as well as attacks to gain more control of the network like Selfish Mining, Stubborn Mining, and Eclipse Attacks. Our goal is to present these attacks discussed in academic research papers at a more intuitive and understandable level.
Second, the report discusses the state of the Bitcoin network in order to assess how concerned the community should be about the threat of these attacks. As of December 2017, over 75% of computational power in the Bitcoin network is controlled by mining pools operated in a single country, with almost 30% controlled by a single organization governing many mining pools. Many interesting questions arise about the relationships between the concentration of hashpower with a few entities and fluctuations in the Bitcoin price.
Check back soon to see the results of this joint effort between Gladius and Hacken! We will also continue collaboration with Hacken in the upcoming months to drive blockchain-based security to become the new normal.