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IOTA to Prevent Sybil Attacks on Its Chain Using Mana-Based System

  • Yuri Molchan
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    The IOTA team plans to introduce a new system of using mana for the prevention of so-called Sybil attacks against its network

IOTA to Prevent Sybil Attacks on Its Chain Using Mana-Based System
Cover image via www.123rf.com
Contents

The name of Sybil attacks originates from the name of Sybil Dorsett, a US artist, who suffered from dissociative identity disorder and was known to have 16 different identities.

A sort of a hackers’ attack when cyber criminals emulate multiple identities, therefore, is called a Sybil attack. Now the IOTA Foundation has found a way of preventing them.

A new way of preventing Sybil attacks

The term was introduces by John Douceur, a researcher from Microsoft as he suggested that the emulation of multiple identities can also happen in blockchain systems.

On the IOTA chain, a distributed computing environment consists of nodes. Identities on IOTA are assigned to those nodes to give them votes or allow access to the network. Thus, nodes on IOTA become vulnerable to Sybil attacks.

Previously, IT engineers stood up to those using resource testing, which implied using either the proof-of-work consensus mechanism or the proof-of-stake one. Now, the Coordicide team has introduced a new tool – mana.

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A shadow of IOTA tokens

The scheme shown in the Medium article shows that mana is a shadow of tokens which get moved between points A and B by a certain node. The node that transfers the tokens is liable to obtain an amount of mana equal to the number of tokens in the transaction.

Mana cannot be traded and it is linked to the nodes, whose ‘shadow’ it is. It can be used in several ways: consensus protocol, auto peering and rate control.

More details can be found in the Mana whitepaper provided by the Coordicide team.

Mana will soon be introduced on GoShimmer.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Bitcoin's Parabolic Uptrend Remains Intact Despite Price Collapse: Tuur Demeester

  • Alex Dovbnya
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    Tuur Demeester wants you to buy the dip as Bitcoin touches the support of its parabolic uptrend for the first time since March

Bitcoin's Parabolic Uptrend Remains Intact Despite Price Collapse: Tuur Demeester
Cover image via u.today

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Tuur Demeester of Adamant Capital has just taken to Twitter to calm down Bitcoin enthusiasts who might have been swayed by incredibly bearish sentiment on crypto Twitter. 

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Bitcoin recently dropped to $6,800, its lowest level since early May. However, Demeester apparently sees this as yet another opportunity to buy the dip. He states that top coin's parabolic uptrend that started at the beginning of 2015 hasn't been violated. However, Bitcoin has tapped support for the first time since March when Bitcoin was trading well below $4,000. 

Shortly after printing a huge red candle on the logarithmic chart, the Bitcoin price spiked by 20 percent on Apr. 2, which started the coin's massive run to $13,700. 

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As of now, BTC is down by nearly 50 percent from its yearly high, but this might not be the end of the nightmare for Bitcoin bulls. According to trading exert Josh Rager, the crypto king could plunge below the $7,000 level again after a fakeout to the $7,500 range. 

Gold bug Peter Schiff recently predicted that BTC could collapse to $10,000 level after competing the head-and-shoulders pattern.  

At the time of writing, BTC is sitting $7,313, CoinStats data shows. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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