04 Nov '13, 9am

Selfish Mining: A 25% Attack Against the Bitcoin Network #bitcoin

Selfish Mining: A 25% Attack Against the Bitcoin Network #bitcoin

One of Bitcoin’s core security guarantees is that, for an attacker to be able to successfully interfere with the Bitcoin network and block and reverse transactions, they need to have more computing power than the rest of the Bitcoin network combined. The reason for this is that the Bitcoin network builds up its transaction history in the form of a “blockchain”, with a random node adding a new block on top of the previous block every ten minutes. To reverse a transaction, an attacker would need to make a transaction and then “fork” the blockchain one block behind the block the transaction was included in – from which point the attacker would be in a computation race against all of the other miners combined as he attempts to catch up. A new paper by Cornell University researchers Ittay Eyal and Emin Gun Sirer, however, significantly reduces Bitcoin’s security guarantee by in...

Full article: http://bitcoinmagazine.com/7953/selfish-mining-a-25-attac...

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Bitcoin 'at risk' of network attack

Bitcoin 'at risk' of network attack

bbc.co.uk 05 Nov '13, 12pm

5 November 2013 Last updated at 12:21 GMT Share this page Delicious Digg Facebook reddit StumbleUpon Twitter Email Print B...

Bitcoin 'at risk' of network attack

Bitcoin 'at risk' of network attack

bbc.co.uk 05 Nov '13, 12pm

5 November 2013 Last updated at 12:21 GMT Share this page Delicious Digg Facebook reddit StumbleUpon Twitter Email Print B...

Majority is not Enough: Bitcoin Mining is Vulne...

arxiv.org 04 Nov '13, 1am

The Bitcoin cryptocurrency records its transactions in a public log called the blockchain. Its security rests critically o...

Bitcoin could be hijacked by ‘selfish’ groups causing currency collapse

Bitcoin could be hijacked by ‘selfish’ groups c...

theguardian.com 05 Nov '13, 12pm

The bitcoin digital currency could be hijacked by “selfish miners” causing honest users to lose time, effort and money. Du...

Bitcoin mining spawns lucrative specialized hardware industry

Bitcoin mining spawns lucrative specialized har...

gadgets.ndtv.com 04 Nov '13, 10am

Tucked away in an air conditioned data center in Silicon Valley is a hodgepodge of black boxes, circuit boards and cooling...

Bitcoin Researchers: You Can Game the System

Bitcoin Researchers: You Can Game the System

mashable.com 04 Nov '13, 4pm

Computer science researchers at Cornell University claim to have found a way to subvert the system driving production of t...

Researchers Debate Value of New Bitcoin Attack

Researchers Debate Value of New Bitcoin Attack

threatpost.com 07 Nov '13, 3pm

“Ittay Eyal and I outline an attack by which a minority group of miners can obtain revenues in excess of their fair share,...

This Is Why Bitcoin Is Fundamentally Broken

This Is Why Bitcoin Is Fundamentally Broken

businessinsider.com 05 Nov '13, 4pm

This protocol works through a process called mining. In essence, the ledger is organized into a single, ordered sequence o...

Mastercoin: A Second-Generation Protocol on the Bitcoin Blockchain

Mastercoin: A Second-Generation Protocol on the...

bitcoinmagazine.com 04 Nov '13, 4pm

The concept of an alternative currently relying on Bitcoin to take advantage of its powerful and secure network backed by ...

Race to Mine Bitcoin Gathers Steam

online.wsj.com 06 Nov '13, 12am

<h4>WSJEurope on Facebook</h4><div style="border: none; padding: 2px 3px;" class="fb-like" data-href="http://www.facebook....

Bitcoin Protocol Vulnerability Could Lead To a ...

slashdot.org 04 Nov '13, 11pm

"Cornell researchers unveiled an attack on the Bitcoin mining protocol that enables selfish mining pools to earn more than...

Bitcoin flaw could let group take control of cu...

money.cnn.com 04 Nov '13, 6pm

University researchers say they've found an unnoticed defect in Bitcoin that could undermine the whole system, turning the...

#Bitcoin is broken.

#Bitcoin is broken.

hackingdistributed.com 04 Nov '13, 5pm

The key idea behind Bitcoin's success is a decentralized protocol for maintaining a global ledger, called a blockchain. Th...