Post
Topic
Board Announcements (Altcoins)
Merits 1 from 1 user
Re: [ANN] [BSV] [Bitcoin SV] an abomination
by
bitcoinPsycho
on 30/09/2021, 13:51:23 UTC
⭐ Merited by JayJuanGee (1)
https://www.fxstreet.com/cryptocurrencies/news/bitcoin-sv-suspended-on-several-crypto-exchanges-over-risks-of-double-spending-attack-202107091331

Double-spending attack threatens the stability of the Bitcoin SV network
The Bitcoin Association, a Switzerland-based non-profit organization, shared news of a double-spending attack targeting Bitcoin SV on July 8. The attack was discovered during regular monitoring of the network by the infrastructure team.

Described as a block reorganization attack, it was carried out in an effort to mask the illegal double-spending of BSV tokens. Double-spending attacks are easier on Bitcoin SV due to the limited number of nodes on the network Indeed, it has a total of 199 nodes operating whereas Bitcoin (BTC) has over 83,000 nodes currently active.  

Bitcoin SV forked from Bitcoin Cash (BCH) in late 2018, and it is suffering from the same vulnerability that was identified in the latter.

In 2019, Github user Bordalix had reached a 22% success rate on double-spending on the BCH network. The same can be expected on the BSV network as the zero confirmation algorithm makes it vulnerable to this exploit.





Total nodes now 156


https://blockchair.com/bitcoin-sv/nodes