The Potential of Blockchain to Save Bitcoin Gold and Prevent Hacks

The concept behind Blockchain technology, or rather what it has become, is very simple. It is a virtual ledger that can record virtually anything, without the fear of the information being accessed or corrupted. While it was started for Bitcoin, it has now expanded in terms of industry usage, and evolved, for the better.

As far as cryptocurrency is concerned, it is a matter of keeping friends close, and the enemies closer, when it comes to new, developing platforms, and Blockchain certainly has a part to play in the scenario.

Bitcoin Gold DDoS Attack

Bitcoin Gold, which was a Bitcoin fork, came under a DDoS attack on the exact same day when it was started. The attack itself, which was the result of the platform coming under an immense barrage of requests, was not operational for a number of days, following the attack, and took time and effort to start operations.

Other than the aforementioned Bitcoin Gold fall, there were other, somewhat minor attacks on platforms, some even resulting in data, as well as cryptocurrency being stolen.

Blockchain as a Solution against DDoS

Bitcoin Gold suffered due to a lack of bandwidth, which is a vital factor for any platform. Since Bitcoin Gold did not possess the bandwidth necessary to handle the number of requests it was getting, the platform crashed and could not sustain.

Blockchain could provide the answer to this dilemma in the future, by providing a stable base for platforms such as Bitcoin Gold to launch and operate seamlessly from the get-go.

This is because of the inherently decentralized nature of Blockchain, and the pooled as well as monetized bandwidth which it features. With Blockchain being used, the bandwidth could be spread across users, thereby increasing the amount of requests and data transfer that can occur. This could protect from attacks in the future.

According to Daan Pepjin, who is an expert in counter-hacking, “During a DDoS attack, this spare bandwidth is utilized to deflect and absorb the bad traffic coming from zombie machines, which are the same ones that the criminal hackers have taken over. Now, anyone with a computer, fast broadband connection, and spare bandwidth can rent out excess bandwidth in order to contribute to global and regional pools of DDoS mitigation nodes.

The act of decentralizing will effectively allow platforms to run on massive bandwidth, which will be provided by the users who are being paid to contribute in terms of their own bandwidth.

Utilizing White Hat Hackers to Bolster Blockchain

In addition to the virtues of the platform itself, Blockchain can be bolstered and de-bugged very effectively. An example of this is the cryptocurrency by the name of Dash. The makers of Dash hired a number of Hackers who were tasked with completely dissecting their Blockchain in order to weed out any bugs, and to spot any weaknesses.

Practices such as getting hackers on the platform’s own payroll will aid in avoiding trouble in the future due to the expertise being on the side of those running the platform, or managing the cryptocurrency.

 

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