eackon714
12 months ago  Karma: -1
How does one invalidate the Ethereum blockchain

What ways are there to invalidate the ethereum blockchain, and if it is invalidated.. Does Dapps suddenly stop working?

I've heard of 51% attacks but are there more?

blockchain
ethereum
51%
dapps
ether
eackon714
12 months ago  Karma: -1
How does one invalidate the Ethereum blockchain

What ways are there to invalidate the ethereum blockchain, and if it is invalidated.. Does Dapps suddenly stop working?

I've heard of 51% attacks but are there more?

blockchain
ethereum
51%
dapps
ether

ONE ANSWER
shredzman
12 months ago Karma: 328

There are a few ways:

  1. If you have more computing power (or Ethereum tokens, when Proof of Stake rolls out) than the rest of the network, so if you have 51% of computing power, then you can spend your money multiple times. This is extremely difficult because there are many people using their computing power to mine Ethereum.

  2. If you have 51% of nodes, then you can choose which blocks you want to approve which means you have control over the network.

  3. An attack that doesn’t necessarily invalidate the blockchain but stops it from working properly is to spam transactions, to create so many transactions that no real ones can be confirmed.

  4. You can attack a specific DApp by exploiting a bug in it’s code. Here is an explanation of a massive hack of a DApp, stealing 50 million USD (It was me who wrote that article! :D)

So these are all attacks that can hurt the Ethereum network. The results of numbers 3 and 4 are pretty self explanatory, so I’ll explain what happens when you use numbers 1 or 2.

If the Ethereum blockchain is attacked in that way, then the attacker has complete control over the network. He can choose which transactions go through, can spend his money multiple times, duplicating money.

DApps don’t necessarily stop working, but they are under a high level of control, if not complete control by the attacker. The attacker can get free cryptokitties, or stop anyone from using them.

I hope this answered your question, and if you have anything else you’d like to ask, then comment on this answer!

There are a few ways:

  1. If you have more computing power (or Ethereum tokens, when Proof of Stake rolls out) than the rest of the network, so if you have 51% of computing power, then you can spend your money multiple times. This is extremely difficult because there are many people using their computing power to mine Ethereum.

  2. If you have 51% of nodes, then you can choose which blocks you want to approve which means you have control over the network.

  3. An attack that doesn’t necessarily invalidate the blockchain but stops it from working properly is to spam transactions, to create so many transactions that no real ones can be confirmed.

  4. You can attack a specific DApp by exploiting a bug in it’s code. Here is an explanation of a massive hack of a DApp, stealing 50 million USD (It was me who wrote that article! :D)

So these are all attacks that can hurt the Ethereum network. The results of numbers 3 and 4 are pretty self explanatory, so I’ll explain what happens when you use numbers 1 or 2.

If the Ethereum blockchain is attacked in that way, then the attacker has complete control over the network. He can choose which transactions go through, can spend his money multiple times, duplicating money.

DApps don’t necessarily stop working, but they are under a high level of control, if not complete control by the attacker. The attacker can get free cryptokitties, or stop anyone from using them.

I hope this answered your question, and if you have anything else you’d like to ask, then comment on this answer!

eackon714

thanks for your response and nice article explaining the DAO vulnerability

Mar 14 '18 at 2:58 pm
eackon714

thanks for your response and nice article explaining the DAO vulnerability

Mar 14 '18 at 2:58 pm
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