SABER to the rescue to prevent Bitcoin from splitting into two
Well, the world of cryptocurrencies is highly vulnerable to attacks from hackers and it poses a clear and present danger that can’t be just shrugged off. If the hackers want they can split Bitcoin into two and it’s not something in the realms of speculation but it is a real possibility, according to a report by CoinDesk.
The report takes into account the whitepaper of the leading Swiss university ETH Zurich which notes that Blockchain systems are particularly vulnerable to such attacks as they rely on Internet-wide communications to reach consensus. Talking particularly about Bitcoin, the whitepaper says that Bitcoin—the most widely-used cryptocurrency—can be split in half by any AS-level adversary using Border Gateway Protocol (BGP) hijacking.
The whitepaper further adds that the university has invented a relay network called SABER which they believe one day will be built on top of Bitcoin. As the name suggests, SABER is a curved sword used with the light cavalry in the Napoleonic period, but instead of slicing Bitcoin, it actually does the opposite. In reality, the planned network will act as a defense mechanism against attacks and protect the network against routing attacks.
As per the whitepaper SABRE will play an important role in securing the network in a way that is innovative and at the same time easily deployable. It will:
- Provide strong security guarantees to any connected client by enabling it to learn and propagate blocks
- SABER is partially deployable
- Provide security benefits early-on in the deployment
Speaking to CoinDesk, Eth Zurich’s computer network researcher Maria Apostolaki said, “SABRE is a small relay network whose nodes are strategically located such that they remain connected to each other and connected to as many regular nodes as possible, even in the presence of an AS-level adversary that hijacks traffic.”
The whitepaper further adds that with the help of SABER the risk of a split goes down remarkably and there is only a 3.1 percent chance of the hacker could hijack the network and partition it.
SABER is expected to be unveiled and presented at the Network and Distributed System Security Symposium later this month and with the amount of time and effort that has gone into developing this system, it seems that SABER is all geared up to thwart the hackers.
Image via Shutterstock
Join our Telegram group