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    Home » Bitcoin blockchain has been attacked, PoW algorithm has demonstrated its reliability

    Bitcoin blockchain has been attacked, PoW algorithm has demonstrated its reliability

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    By BlockchainJournal on October 15, 2019 Blockchain News, News
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    Today, on Twitter, one of the users wrote that someone tried to transfer a block with one “0” to the Bitcoin blockchain . So he tried to trick the PoW protocol (Proof-of-Work).

    “#Bitcoin is attacked: someone tried twice to transfer incorrect blocks that start only from scratch …

    Glad my node immediately rejected this joker! ”

    #bitcoin under attack:
    twice someone tries to broadcast a bad block (proof of work failed: blocks start with only one zero .. 15 min later with not enough zero's).

    Glad my node rejects this joker immediately! pic.twitter.com/3yPEsTp91J

    – Plan₿ (@ 100trillionUSD) October 13, 2019

    The message says that the error was detected in a user node built on the Raspberry Pi and using a 500 GB SD card as storage, so that there would be no problems using it in 24/7 mode.

    The Bitcoin blockchain uses the coordinated PoW (Proof-of-Work) protocol. This protocol is used to find a line of code that starts with a few zeros, around 19: these zeros reflect the complexity of the calculation and, as a consequence, the security of the transaction.

    If a bitcoin transaction has only one 0 or even a pair, as in this case, we can easily conclude that it took a little time to calculate the hash, and therefore there is a 99% chance that it was an attempt to attack bitcoin and push through an incorrect transaction .

    Fortunately, the transaction was rejected by the specified node. This is a good example of how Bitcoin (BTC) and the PoW (Proof-of-Work) protocol proved to be resistant to any type of attack, even differing from the most famous 51% attack.

    Publication date 10/15/2019
    Share this material on social networks and leave your opinion in the comments below.


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