Spam attack on the Zcash blockchain

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The privacy-focused cryptocurrency Zcash (ZEC) has been hit by a spam attack that floods blocks with secure transactions with hundreds of outputs.

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“The spam attack on Zcash continues. Almost every block contains a secure transaction with hundreds of outputs. At the same time, the spammer successfully increases the size of the chain, maximizing the block to a size of 2 MB. Spam transaction cost? Less than a cent,” wrote a user under the pseudonym xenu.

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Data: blockchain explorer Zcash.

Experts found it difficult to determine the purpose of the attack. Researcher Nick bax.eth of Convex Labs identified three possible motives:

  • for fun;
  • to make a profit through short positions in Zcash – problems in the operation of the blockchain may lead to a fall in the price of the cryptocurrency;
  • make it difficult to run nodes, which will make it easier to spy on the network and make it more accessible eclipse attack.

According to CoinGecko, over the past 24 hours, Zcash quotes have decreased by 1.5%. The coin is trading at $56.4.

One of the users with the nickname dan suggested that the developers of Monero, another confidential cryptocurrency, were behind the attack.

“I don’t see other losers who would waste time on this. Zcash is a competitor to Monero, so they are trying to weaken it,” he wrote.

The Monero community reacted with irony to his guesses:

“What is Zcash??”.

In June, Zcash developers activated a major Network Upgrade 5 update.

In 2021, the Electric Coin Company behind the project unveiled a roadmap that included the transition of the blockchain to the Proof-of-Stake consensus algorithm.

After migrating to the Ethereum PoS network in September 2022, Vitalik Buterin expressed confidence that Zcash would follow suit.

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Source: Cryptocurrency

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