Vitalik says, “Attack would become nearly impossible with this new Algorithm”. Can anybody explain how this new algorithm is not vulnerable to attacks?
Attack will be nearly impossible with this new algorithm
According to the Guide released by Vitalik Buterin’s own website Vitalik.ca,
- We’ve heard for a long time that it’s possible to achieve consensus with 50% fault tolerance in a synchronous network.
- In this network, the messages broadcasted by any honest node are guaranteed to be received by all other honest nodes within some known time period.
- If an attacker has more than 50%, they can perform a “51% attack”, and there’s an analog of this for an algorithm of this type.
Vitalik’s new guide to 99% Fault-Tolerant Consensus a new kind of consensus algorithm, is a process in computer science which is used to achieve agreement on a single data value among distributed processes or systems. Furthermore, This consensus algorithm requires just 1% of nodes to be “honest”.Link here contains a description of the algorithm.
This algorithm can be used as a tool for detecting 51% censorship attacks and coordinating around using minority soft forks to get out of them. The tool will not need much human-driven social coordination to pick one action or the other in edge cases.
So, Future of Ethereum Blockchain looks brighter and reliable. Sincere solutions by Vital will keep this congested network running being costly to transact on. However, Ethereum is the most active development community in the world.
What is Ethereum
Ethereum is a decentralized platform for developers to integrate Ethereeum Blockchain in their projects. However, This blockchain is just an advanced version of Bitcoin Blockchain which is co-founded and proposed by Vitalik Buterin. Currently, there are 1875 Dapps working on Ethereum Blockchain.