The Lightning network was yesterday the victim of a DDoS attack (Distributed Denial of Service). Around 200 nodes could be forced to their knees and thus almost 20% of all nodes – from 1,050 to 870 nodes.
The user “BitPico” said that he was responsible for this. BitPico is – according to rumors – a supporter of the SegWitx2 camp (SegWitx2 demanded: SegWit and increase the block size for Bitcoin to 2MB).
It is unclear who is behind “BitPico”. Only a Twitter account can be found. An account that describes the user as a Bitcoin fan. According to his own statements, he is also working on the Lightning network. Further tweets suggest that he doesn’t like Bitcoin Cash very much.
In any case, this onlinebetrug user found a vulnerability in the Lightning network. Bitpico was able to establish multiple connections to individual nodes. Read more about it: https://www.onlinebetrug.net/en/ He then used the connections to attack and disable the nodes. As a result, the nodes could not establish any further connections.
One solution to this problem would be to limit access to individual IP addresses. However, it would be better if the problem were solved on its own. Several thousand nodes could fend off DDoS attacks of this kind. However, the Lightning network is currently only used by developers, because the setup is too complicated for “laymen”. An appealing wallet (as interface for the Bitcoin Lightning network) is still missing.
At least this attack shows that the Bitcoin code Lightning network is still a very new protocol and needs to be optimized says onlinebetrug. Therefore you should expect bugs and exploits and only use small amounts for this protocol.
Time will tell if the Bitcoin Lightning network is up to the coming attacks. In the future, more hackers will try to attack the network in order to gain access to the popular digital currency Bitcoin.
Decentralization is hard. Alex Bosworth, developer of applications for the Lightning network, also knows this. He said his work has been attacked by botnets from the start.
The TrumpCoin was originally created to support the presidential campaign Donald Trumps. According to his motto “Make America Great Again”, the TrumpCoin crypto currency is to be used to support projects and companies. But he has been president for some time now, is it worth buying this coin? And does the forecast depend on the president’s success?
TrumpCoin – What is this Bitcoin revolution?
The crypto currency is based on the Bitcoin revolution and performs a similar function. It is to be used as a digital means of payment for transactions. However, the Trump/Coin is not technically identical to the Bitcoin. Unlike Bitcoin’s Proof-of-Work, the Trump Coin uses the Proof-of-Stake algorithm. Proof-of-work consumes a great deal of computing power and power in order to be able to carry out any transactions at all.
The Proof-of-Stake algorithm reduces power consumption, this method also makes it possible for the TrumpCoin to buy and earn its own: With the Proof-of-Stake you freeze some coins on your own TrumpCoin Wallet and help to verify transactions. As a reward you have the chance to earn some coins yourself. This is 2% of the frozen amount per year.
During the development, value is placed on a stable crypto currency, the inflation is only 2% per year. Maximum there should be only 12 million Trump / Coins.
Thus the crypto currency is faster than the Bitcoin profit, transactions should be able to be carried out within a few minutes. Furthermore, the fees for a transaction should be converted into a few cents. At the beginning of the development 6 million Trump/Coins were generated by the Bitcoin profit team, whereby 2 million of it were used for the financing of the presidency campaign of Donald Trump.
Since then, fans of the crypto currency have been encouraged to use the coin to finance new projects, in keeping with the president’s campaign slogan. These include, for example, rebuilding American infrastructure, helping the homeless and the poor, and securing America’s external borders.