Hi, I'm Amanda B Johnson and you are watching DASH: Detailed

Discussions of the security of a given blockchain- based network generally revolve around various kinds of attacks and how resistant or non-resistant the network is to them One such attack that could be carried out theoretically on any peer-to-peer network is called a Sybil Attack The name comes from the book and later movie "Sybil" which was about the real-life story of a woman who suffered from "multiple personality disorder" The root of the attack then is when one person poses as multiple different identities online So how does this apply to cryptocurrency, you may be wondering, where one person running multiple nodes is generally seen as an "Atta boy!" sort of thing

"Thanks for supporting the network" Well depending on the cryptocurrency you're talking about one person running many, many nodes could do several different things The first thing they could do is give a false impression about the version of the software that the majority of the network wants They could say, refuse to upgrade to a new version or push out their own upgrade of a new version, giving the impression that the majority of the network wants to go a certain way in development when really it's just one person Another form a Sybil Attack could take in coins which offer any level of a privacy is the de-anonymization of transactions

And yet, another form that the attack could take is the refusal to relay transactions to the rest of the network So with these possible attack vectors, and probably more, how can we determine how resistant or non-resistant any given network is to them? Well as with all human action we can most successfully predict what someone is going to do or not do based upon its cost For example, if I offered you an all-expenses-paid trip to Hawaii and time off your job to take it, you would probably start packing your bags tonight Whereas if I offered you the same trip on the condition that you and your children and your children's children would be indebted for it for life, you would probably not take me up on it In short, whether or not a person does something depends on whether it is profitable or costly for them and how costly if so

So the question we must ask ourselves is, what is the cost to Sybil Attack any given blockchain network? Well in every top cryptocurrency except Dash the cost of spinning up a node on that network is about five dollars a month A motivated and wealthy attacker could spin up hundreds, thousands or even tens of thousands of nodes over time at relatively little cost to them Now the same is true in Dash — anyone can run a full node for roughly five dollars a month — but the crucial difference is that those kinds of nodes in Dash don't get to do anything important or crucial They don't get to participate in the anonymization process of PrivateSend They don't get to participate in the security process of InstantSend

And they don't get to participate in the governance process of cryptographic voting So how much does it cost to participate in the crucial processes of Dash? Well at current prices about thirteen thousand dollars per node That's because a thousand Dash are required to run a masternode and a thousand Dash costs roughly thirteen thousand dollars today And how much of the Dash network would you control after spending this thirteen thousand dollars? One fortieth of one percent But that's spare change to a wealthy and motivated attacker, you might say

And you would be right So how much would someone have to spend in order to gain a majority of the network? Well with roughly 4,000 current masternodes in existence an outside attacker — in order to gain say a majority — we need to purchase an additional 4,000-ish nodes, which is literally impossible because that would require at least a supply of eight million Dash and there are less than 7 million And even if there were enough Dash, any attempt to buy them all up would send the price so astronomically high that "to the moon!" would become an understatement So with an outside attack essentially infeasible that leaves only one kind: an inside attack A Dash masternode operator or operators essentially "breaking bad

" What if someone owned 400 masternodes or ten percent of the network and their chosen Sybil Attack vector were, hey, the de-anonymization of an eight-round mixed PrivateSend transaction Their chances of doing so? One millionth of one percent But hey, let's get crazy What if someone owned 800 masternodes — twenty percent of the network — then what would their chances be to de-anonymize an eight-round mixed PrivateSend transaction? Less than 30 thousandths of a percent So what would this quite nearly impossible Sybil Attack cost our attacker? Oh, just 10

4 million dollars worth of his own Dash as a crash in the price would surely follow the de-anonymization of a high-security PrivateSend transaction However, the collateral requirement to run a masternode is only one part of the Sybil Attack protection The other part is the potential future earnings of running a masternode as they are paid the same amount as Dash's miners And it's this bit of self-interest that Satoshi Nakamoto himself talked about in the Bitcoin whitepaper Satoshi wrote, "If a greedy attacker is able to assemble more CPU power than all the honest nodes, he would have to choose between using it to defraud people by stealing back his payments" — or conducting any other type of attack — "or using it to generate new coins

He ought to find it more profitable to play by the rules, such rules that favoured him with more new coins than everyone else combined, then to undermine the system and the validity of his own wealth In that quote, Satoshi is describing how Bitcoin's nodes would ideally work but as we all know, nodes and miners are now different things in Bitcoin Because masternodes both prove a stake in the network and are regularly paid from it, it is entirely accurate to say that Dash is more aligned with Satoshi's original security model than Bitcoin is If you would like to learn more about security and Dash, or any other aspect of Dash really, I invite you to stop by either our subreddit at r/DashPay or a even more hopping at place is our Slack in dash_chat — the invitation link for that is below And this has been DASH: Detailed

I'll see you next Wednesday So welcome everybody Thank you so much for coming out My name is Amanda B Johnson

I am the host and the writer of a Youtube series, a weekly Youtube series, called DASH: DetailedSo now now that we've kind of established how we operate, how it works, what we're doing, what is Dash Evolution and how does it work? Why why should we all be interested in it? And thank you so much for having us