This blockchain has an empty box – The project BSV supported by Craig S. Wright has already experienced some major setbacks since its fork of Bitcoin Cash (BCH) in November 2018 – BCH already being a fork of the real one Bitcoin (BTC). This time, it’s a new type of problem that affects this notoriously insecure blockchain: empty block attack.
BSV: source of “innovations” on blockchain issues
In less than 4 years of existence, the fork of fork BSV has already experienced at least two major issues on its blockchain. Already, during the summer of 2019, a simple update led to the creation of 3 BSV sub-forks for nearly two weeks. Then, much more serious, the network BSV suffered a 51% attack very important in August 2021.
Remember that this last attack consists of taking control of block production by succeeding in supplying more than 50% of the computing power (Where hashrate) necessary to validate the blocks of transactions, in a consensus based on the proof of work (PoW).
As Cryptopotato reports in particular, the BSV project innovates in the problems that blockchains can suffer, this time with the “ Empty Block Attack “, Where empty block attack.
>> Come and take your first steps in the Bitcoin universe on Binance (commercial link) <<
A blockchain emptied of all substance, in the literal sense
This empty block attack is in this case a new form/kind of 51% attack, where (the) attacker(s) regularly mine blocks… without any transactions. According Todd Pricequoted by Cryptopotato, million transactions untreated pile up in the mempool BSV (a sort of RAM that pre-processes transactions before they are validated in a block).
Worse still: if certain services of the BSV ecosystem have no “not allocated enough RAM to keep the mempool » (which therefore assumes gigantic proportions), the oldest transactions can end up being forgotten by this memory.
The attacker-minor in question therefore does not already receive no transaction feesbut the BSV teams also want to deprive him of block rewards in an attempt to stifle his attack. They thus implore the crypto-exchanges which collect the BSV of the miner-with-the-empty-blocks of freeze them purely and simply.
Powerless to provide enough more hashrate than the striker, BSV teams hope the energy costs mining, without any compensation, will end up to discourage to continue producing empty blocks.
Since BSV has been delisted of the major cryptocurrency exchanges in 2019 (and even before), although few miners are interested in the mining of the tokens of the Craig Wright project. This has the consequence, as we can see again with today’s example, of greatly undermine security of this blockchain.
There is only one Bitcoin, the one that sits at the top of the cryptocurrency ranking! Take advantage of current market conditions to accumulate some. Register quickly on the Binance platformTHE absolute benchmark in the sector (commercial link).