RAIDS
A raid is an attack on a blockchain network by malicious actors aiming to disrupt the functioning of the network and potentially steal funds from users. Raids can take many forms, including distributed denial-of-service (DDoS) attacks, 51% attacks, double spends, block withholding attacks, selfish mining attacks and more.
Distributed Denial-of-Service (DDoS) Attacks: DDoS is one of the most common types of raids seen in cryptocurrency networks. A DDoS attack occurs when a malicious actor sends large amounts of data to overwhelm a system’s resources so that it cannot process legitimate requests. This can cause users to be unable to access services or make transactions on the blockchain.
51% Attack: A 51% attack is when a single entity or group controls over half of all computing power in a particular cryptocurrency’s network—known as hash rate—thereby giving them majority control over transactions and blocks mined on that chain. With this control they are able to reverse confirmed transactions which could result in stolen funds for victims who fall victim to this type of raid.
Double Spend Attack: Double spend attacks occur when someone tries to send two different sets of coins or tokens at the same time using conflicting transaction histories resulting in one being rejected while allowing them keep their original balance intact with no loss suffered by any party involved other than those affected by delays caused due to resolving these conflicts within the network itself .
Block Withholding Attack: Block withholding attacks are another form of attack where miners withhold blocks from being added onto public ledgers making it difficult for other nodes within that particular networks consensus protocols such as Proof Of Work (PoW). In some cases attackers may even try replacing previously made blocks thus creating forks causing further discrepancies between versions leading up eventual disruption depending upon how much hashpower they possess relative others present within said networks .
Selfish Mining Attacks : Selfish mining involves miners attempting gain greater rewards at expense others around them by keeping new blocks found secret until certain conditions have been met allowing them advantage over honest miners not working towards disruption rather helping secure said chains through participating normal consensus protocols .
These are just some examples among various types raids commonly seen today across multiple cryptocurrencies however security measures such as checkpoints , replay protection and improved hashing algorithms have become more commonplace amongst newer generation blockchains reducing chances successful exploitation significantly better protecting users assets against potential theft due malicious actors .
