RATE Group | Ethereum’s (ETH) Vitalik Buterin Proposes Construction to Protect Against 51% Attacks on…
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Ethereum’s (ETH) Vitalik Buterin Proposes Construction to Protect Against 51% Attacks on…

14 Feb Ethereum’s (ETH) Vitalik Buterin Proposes Construction to Protect Against 51% Attacks on…

Posted at 23:52h in Ethereum News by

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A 51% attack can be very harmful for a blockchain as it totally prevents new transactions from gaining confirmations and can stop payments between some or all users. Vitalik Buterin of Ethereum Foundation suggests that this issue may be solved by timeliness detectors.

When time is money

A new concept proposed by Mr. Buterin addresses three challenges since it allows active blockchain clients to come to an agreement over three questions of crucial importance. Namely, they will know:

  1. whether or not a “sufficiently bad” 51% attack has occurred 

  2. what is the “correct” chain to converge on, and

  3. which validators are to “blame” for the attack.

This analysis will be conducted through a network of randomly picked attesters. They will check the timestamps of every block and find whether or not it came ‘on time’. So, only blocks arriving ‘on time’ will be re-broadcast to the mainnet with the signatures of attestors.

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