Prize
0.1 ₿ ≈ $ 380
Objective
Create a detailed, example driven guide to carrying out a 51% reorganization attack against a cryptocurrency.
[source: Moos, Mitchell. "Explained: 51 Percent Attacks On Bitcoin and Other Cryptocurrencies". https://cryptoslate.com/explained-51-percent-attacks-on-bitcoin-cryptocurrencies/]
Submission
Email a PDF or JPG copy of your finished guide to tvetsch@protonmail.com
Please also supply an email address (and PGP key if you wish) and a BTC address for receipt of any prize moneys you may win.
Deadline
Submissions must be received no later than Jan 20, 2019 (UTC).
A winner (if any decent submissions were received) will be announced via this STEEM account on Jan 23, 2019. The prize will be disbursed to the winner no later than Jan 24, 2019.
Details
- Include recommendations on where to acquire cheap hashpower.
- Give examples of what commands/settings must be issued. E.g., How to instruct
minerd.exeto append the blocks you find onto your private longest blockchain rather than onto the network consensus blockchain? When/how to publish this longest chain to the rest of the miners on the cryptocurrency's network in order to trigger the blockchain reorganization? - Explain also a recommended procedure for profiting from your ability to reorg a blockchain. E.g. Shorting the coin you before you reorg it? Using the reorg to execute one or more double-spends?
Background Materials
[Moos, Mitchell. "Explained: 51 Percent Attacks On Bitcoin and Other Cryptocurrencies".https://cryptoslate.com/explained-51-percent-attacks-on-bitcoin-cryptocurrencies/]
[Teutsch, Jason, Sanjay Jain, and Prateek Saxena. "When cryptocurrencies mine their own business." In International Conference on Financial Cryptography and Data Security, pp. 499-514. Springer, Berlin, Heidelberg, 2016. https://allquantor.at/blockchainbib/pdf/teutsch2016cryptocurrencies.pdf]
Chapter 3 from [Ali, M. (2017). Trust-to-trust design of a new Internet (Doctoral dissertation, Princeton University). ftp://ftp.cs.princeton.edu/techreports/2017/003.pdf]