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cryptoisthekey

135 karma · joined June 17, 2020

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cryptoisthekey··on [dead]
From the link: The first attack, ConditionalExhaust, entails creating "two-faced" transactions that are computationally intensive only when executed by block creators that cannot include them in a block, while they are very simple & pay a low amount of fees in all other cases. We test ConditionalExhaust on a local testnet & show that with just 140 transactions costing at most $770, an attacker exhausts a victim's resources to the point where it cannot include any transaction in its blocks, thereby severely compromising the system's liveness.

The second attack, MemPurge, allows evicts honest transactions from a victim's mempool. Blockchain nodes save transactions in a size-limited database called the mempool. When the limit is reached, an existing transaction may be evicted in favor of a new & better paying one. MemPurge allows an attacker to send chains that are 65 transactions long, but which at the worst case require paying for just a single transaction, meaning that evicting transactions becomes considerably cheaper.

cryptoisthekey··on Israeli researchers discovered the first consensus-level attack on Ethereum
Finally, even @foldfinance and @mesquka are toning down their comments. @foldfinance: "F2pool is doing additional exploitive behavior besides the one described here, sorry if that was not clear in our tweet." @mesquka: "Yes, the specific execution of this particular attack is unique to ethereum due to it's dynamic difficulty adjustment, but block withholding and timestamp manipulation as a class of attacks are well known."
cryptoisthekey··on Israeli researchers discovered the first consensus-level attack on Ethereum
The attack is called "Uncle Maker", as it allows attackers to displace main-chain blocks with their own blocks, thus making these displaced blocks become uncles. By analyzing the timestamps of the last 3 million blocks, it becomes apparent that F2Pool has performed the attack in the wild.
cryptoisthekey··on ASICs are overpriced, returns from mining can be imitated by a portfolio of BTC
According to a new paper by Aviv Yaish and Professor Aviv Zohar:

1) Mining ASICs are overpriced.

2) A portfolio of Bitcoins can imitate (and sometimes outperform) returns from mining hardware.

3) Bitcoin's volatility should increase rig price.

Medium post: https://medium.com/@aviv.yaish/your-asic-is-probably-mispric...

Link to paper: https://arxiv.org/abs/2002.11064