VRB News
Virtual Reality Brisbane
  • Home
  • About us
  • IT news
  • Tech
  • World
  • Contact
No Result
View All Result
  • Home
  • About us
  • IT news
  • Tech
  • World
  • Contact
No Result
View All Result
No Result
View All Result
Home IT news

How secure is the Lightning network?

admin by admin
August 15, 2022
in IT news
0
Bitcoin Lightning
0
SHARES
10
VIEWS
Share on FacebookShare on Twitter

Researchers Cosimo Sguanci and Anastasios Sidiropoulos published their research on potential attack possibilities of the Bitcoin Lightning network.

The research paper examines in more detail how malicious actors might be able to exploit two vulnerabilities of the network in order to compromise or even manipulate it.

The two attacks are a so-called “zombie attack” and a “mass double spend attack”.

The Lightning network allows the relatively sluggish Bitcoin blockchain to process payments quickly and safely. It achieves higher transaction speeds by directly connecting users on the network through payment channels.

The first and last transactions are transferred to the Bitcoin blockchain. All other transactions in between are processed by the Lightning Network away from the Bitcoin blockchain. Among other things, the number of nodes is important for the health of the Lightning network.

How do the attacks work?

During the ”zombie attack”, certain nodes are decommissioned, which makes coins that are in the payment channel at the time inaccessible. In the researchers’ paper, there is talk of a form of vandalism here.

The damage that could be caused is limited. For users sending legitimate payments, such an attack would only be frustrating, but not fatal, due to the increase in transaction fees.

A ”mass double-spend attack”, on the other hand, should be familiar to some readers. For example, if a malicious actor is able to control 51 percent of the computing power on a Proof of work blockchain, it can manipulate transactions and send (spend) funds multiple times.

However, what would be extremely costly to perform on the Bitcoin blockchain could be easier on the Lightning network, according to the study. In principle, it is possible to bombard the Bitcoin blockchain with fraudulent transactions.

We remember: only the first and last transactions on the Lightning network are transmitted. A gathering of larger nodes could transmit an unlimited flood of fraudulent transactions to the blockchain.

If these nodes then pay more fees for validation than legitimate transactions, they would be able to skip the queue and submit incorrect transactions. The consequences would be fatal.

The double-spending problem

On request, Bitcoin Lightning developer Rene Pickhardt explains that he had already dealt with this type of double-spending attack a few years ago. In an e-mail to other developers, he drew attention to this.

Such an attack could be even more serious on the Lightning network than on the main chain. With the latter, in itself, it is only possible to use one’s own funds twice. However, in the Lightning network, attackers could steal a seemingly arbitrary amount of funds, provided that enough payment channels are open, Pickhardt said.

Are attacks defensible?

Of course, the Lightning network is not equipped without security mechanisms. Such protection is provided by so-called watchtowers (watchtowers). These log the status of the network and, with the support of honest nodes, are able to detect dishonest transactions. These watchtowers would sometimes have to fail for such a mass double-spending attack to be successful.

The researchers at the University of Illionois were able to model such an attack using past congestion data on the Bitcoin blockchain. They came to the conclusion that such an attack would have led to disastrous results during a transaction jam.

In his original assessment, Pickhardt stated that he saw no way to prevent such an attack. The researchers also summarize in their work that the weak points remain unresolved to this day. They recommend optimizing the existing security structures and strictly guarding overloads on the main chain.

Another paper investigating a more accurate modeling of the attacks, taking into account transaction fees, is planned.

 

Previous Post

Star Citizen could have textures in 8K

Next Post

Dutch police arrest Tornado Cash developer

admin

admin

Related Posts

Dedicated Servers
IT news

The advantages of dedicated servers: cost, performance, security

January 27, 2023
Different types of proxies and their benefits for online security
IT news

Different types of proxies and their benefits for online security

January 27, 2023
Image technology: DHL warns against fake SMS – you need to know that fake SMS with supposed address queries from DHL are circulating at the moment. Sometimes the messages seem very authentic. That’s what’s behind it. More…
IT news

Image technology: DHL warns against fake SMS – you need to know that fake SMS with supposed address queries from DHL are circulating at the moment. Sometimes the messages seem very authentic. That’s what’s behind it. More…

January 25, 2023
helpchildreninukraine
IT news

Need for reform in juvenile justice legislation in Ukraine

January 25, 2023
Mercado Libre accuses Apple of monopoly in Mexico; IFT launches investigation
IT news

Mercado Libre accuses Apple of monopoly in Mexico; IFT launches investigation

January 25, 2023
Next Post
Dutch police arrest Tornado Cash developer

Dutch police arrest Tornado Cash developer

Premium Content

Netflix renews The Umbrella Academy for a 4th. and last season

Netflix renews The Umbrella Academy for a 4th. and last season

September 14, 2022
PSVR has two new packages in the US and Canada

PSVR has two new packages in the US and Canada

January 25, 2022
(UPDATED) Detached is delayed on PSVR until July 24th

(UPDATED) Detached is delayed on PSVR until July 24th

February 20, 2022

Browse by Category

  • Games
  • IT news
  • Tech
  • World

VRB News is ready to cooperate with webmasters and content creators. Send an email to info@virtualrealitybrisbane.com

Categories

  • Games
  • IT news
  • Tech
  • World

Recent Posts

  • The advantages of dedicated servers: cost, performance, security
  • Different types of proxies and their benefits for online security
  • Image technology: DHL warns against fake SMS – you need to know that fake SMS with supposed address queries from DHL are circulating at the moment. Sometimes the messages seem very authentic. That’s what’s behind it. More…

© 2021 - The project has been developed ServReality

No Result
View All Result
  • Home
  • About us
  • IT news
  • Tech
  • World
  • Contact

© 2021 - The project has been developed ServReality

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?