After a recent serious violation of the security of the Monero network, the founder of Cardano Charles Hoskinson spoke about security measures that were undertaken on his own crypto project.
Hoskinson mentioned the attack of 51% on the Monero network, made by QBIC developers. The creators of Qubic called their actions not a malicious attack, but with a “stress test” to identify vulnerabilities. However, the incident with Monero caused the fears of the developers that, in case of a successful attack, 51% of attackers can make double expenses and censored transactions.
Sadchan Cardano Midnight and the Minotaur consensus protocol were created to confront such threats, the businessman assured. Hoskinson said that Minotaur uses several forms of consensus combining the proof of work (Proof of Work, Pow) and proof of the share of ownership (Proof of Stake, POS). With this approach, control is distributed between different types of resources, preventing the dominance of one of them on the network. No attacker can gain control over the blockchain using only one consensus method, and this significantly complicates the hacking of the system, says Hoskinnson.
A multi -resource model with different consensus provides an uniform distribution of computing load between the participants. Cardano steying operators, valid for Cardano and Midnight, can ensure the operation of the system without overloading their equipment, the founder of Cardano added.
He said that Minotaur provides the functioning of Midnight – the fourth -generation Cardano blockchain. Midnight uses evidence with zero disclosure of ZK-Snark to check transactions without disclosing confidential data.
Recently, Hoskinson said that the Cardano, ADA cryptocurrency will not be used to pay for the listing commissions for ecosystem projects: Snek Memcoirs and Sadchain Cardano Midnight. Earlier, the founder of Cardano boasted that the ADA coin surpassed the bitcoin growth rate.
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Source: Cryptocurrency
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