Can 51% attacks be finally eliminated? Ethereum founder Vitalik proposes a new concept for this

A 51% attack is an attack on a blockchain organized by a group of miners who control more than half of the computing power. Now God V has come up with a way to stop them!

A 51% attack can be very harmful to the blockchain because this attack can completely prevent new transactions from getting confirmed and may prevent payments between some or all users. Ethereum founder Vitalik Buterin believes that this problem can be solved by timeliness detector.

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When "time is money"

This new concept proposed by Buterin addresses three challenges because it enables active blockchain clients to reach agreement on three critical issues. That is, the client will know:

  1. Whether a "serious enough" 51% attack has occurred
  2. Which "correct" chain to fuse, and
  3. Which verifiers should be "accountable" for this attack.

The analysis will be performed through a randomly selected prover network. They will check the timestamp of each block and determine if it arrived "on time". Therefore, only the blocks that arrive "on time" will be rebroadcast to the mainnet with the certifier's signature.

Similarly, the concept of this timeliness detector will eliminate the possibility of implementing a censorship system on the blockchain. The client does not support any part of the blockchain that rejects "fair" blocks: This is easy: if a block with a self-declared time t is a timely chain, the [deadline] is automatically ruled as non-standard, the The chain does not include the block (…). Is it good for Ethereum (ETH) 2.0? Generally, the Ethereum (ETH) researcher community appreciates this concept. Some of them even asked if the proposed technology is suitable for the initial phase of Ethereum 2.0, and a proof-of-stake version of the Ethereum protocol will be launched in 2020.

Similarly, the concept of this timeliness detector will eliminate the possibility of implementing a censorship system on the blockchain. The client does not support all parts of the blockchain that reject "fair" blocks:

This is easy: if a block with a self-declared time t is a timely chain, the chain does not include the block (…) until the [deadline] is automatically ruled as non-standard.

Is this new proposal good for Ethereum (ETH) 2.0?

Taken as a whole, the Ethereum researchers community appreciates this concept. Some of them even asked if the proposed technology is suitable for the initial phase of Ethereum 2.0, and the Proof of Stake (PoS) version of the Ethereum protocol will be launched in 2020.

Vitalik Buterin said that this is possible, and he personally hopes that the development of Ethereum will move in this direction.