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cr1pton00b (OP)
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January 01, 2018, 12:59:49 AM
 #1

Why RaiBlocks is not secure.

In this article I will try to explain why RaiBlocks is not secure and why its technology is any better neither comparable than the Bitcoin technology.

1. Decentralized payments
Decentralized payment networks are, in opposite of centralized payment network like banks, a way to secure your money without having the risk that a central authority could steal your money or manipulate the money in the market. Decentralized payment networks use asymmetric cryptography to ensure that you are the only one who can spend your money.
When you create a cryptocurrency wallet you are given a public key and a private key. The public key allows other people to send you money, while the private key allows you to spend them.  

But how other users know how many money do you have?
To accomplish this, every user of a decentralized payment network must download the entire transaction database which is replicated on the entire network. When you send a payment over the network, it is received by all the users connected on the network allowing them to know your updated wallet balance and allowing them to discard that payment if you don’t own enough funds.

2. Double Spending
The main problem that afflicts decentralized payment networks is double spending: the ability of an user to spend his money multiple times. In the real world, when you pay someone you give him the real cash. In a centralized payment network, like VISA, the central database is updated every time you make a payment, and they will not allow you to spend more money than your balance.
In a decentralized payment network what happens if you send the same amount of money on two users of the network in the same time? Since their database takes time to update for a small amount of time they both will receive the payment and accept it. In a later moment, when the network tells them that you double spent your money, they will cancel the payment, this is possible because every payment is broadcasted to the entire network, not only the receiver.
Without any other security layer, if a malicious user double spends his money and succeeds to block a payment receiver to know that he sent the same money to someone else (or even better, to another wallet of his own), the payment receiver will accept the payment and ship the good. This is so bad, since even a network connection problem could temporarily lead a payment receiver to undetect double spendings.

3. The Bitcoin Solution
To solve this problem, Bitcoin relays on the fact that after you receive a payment you need to wait a confirmation block, the confirmation block tells you that the payment you have received has been accepted by the entire network and you are allowed to spend it. To create a confirmation block, the miners create a list of all the pending unconfirmed transactions and solve a very difficult mathematical puzzle. The miner who solves the puzzle first, sends the block he found with all the list of confirmed transaction and the solved puzzle to the network, the users of the network will check if the puzzle solution is valid and then reward him with some free coins plus the sum of all the payment fees of each transaction in the block. The miners must create a valid list of payments to be accepted by the network, so double spend attempts are just discarded.

In Bitcoin an attacker,  to make a succesful double spending, should not just stop you from receiving a double spend attempt message, but he should also solve the puzzle to create a confirmation block in a reasonable time frame. Currently solving that puzzle with a single computer would take years; at writing time to solve that puzzle a network of thousands dedicated hardware is used, an attacker would require a billionaire investment to replicate that network. Moreover, it would not only need to create one confirmation block but six of them (6 confirmation blocks are required in the Bitcoin network to trust a payment).

Critics of Bitcoin say that all the computation power used to make the Bitcoin network secure is just a waste of energy because there are other reliable and better technologies. Is that true?

4. What is RaiBlocks?
RaiBlocks is a crypto currency that advertises itself as a fast, fee-less and secure currency, unlikely Bitcoin which is currently slow and high-fee (usually requires 1 hour to a full payment confirmation).
But the key point is that Bitcoin has been made that way to guarantee his users a certain amount of security to prevent double spendings.
 
RaiBlocks completely ignores the Bitcoin technology and relies on a special version of the Proof Of Stake concept.
When you receive a payment in the RaiBlocks network you have to wait a certain amount of time to be sure that a double spending has not been attempted (and remember the first problem, if an attacker stops you from receiving the double spend you would never know!)
When a double spent is detected, the RaiBlocks network starts a vote. Every peer connected to the network vote to accept the payment A or payment B; every user vote is weighted with the amount of his balance. Usually each peer votes for the first transaction he receives. The transaction which the sum of votes reaches the 51% of online amount of currency wins. The winning transaction is accepted by the network and the other one is discarded. (Reference https://github.com/clemahieu/RaiBlocks/wiki/Double-spending-and-confirmation)

The payment receiver, if his network has not been compromised, will then know if he can trust the payment or not, and will ship the good accordingly. This system leads to an unsolvable problem.

5. The Man in the Middle attack.

If an attacker succeeds to put himself between a merchant and the RaiBlocks network he can just filter the double spending payment packets, and the merchant will never know that he is receiving a double spending. The Raiblocks network will discard that payment while the merchant will accept it.

https://s18.postimg.org/7pnm6yweh/doublespend.png

6. Solutions proposed by the RaiBlocks team

a) The merchant should ask a vote for each payment he receives and wait for the confirmation.
The problem is that the attacker could manipulate the vote by telling the merchant that only his peers are connected to the network thus he will win the vote by filtering only his votes. Plus, asking a vote for each payment would cause a huge increment of bandwidth usage that many peers could not handle.

b) The merchant should have a remote node verifying the payment.
The attacker could just attack that network too.

c) The merchant should ask the RaiBlocks.net website if the payment has been accepted.
The attacker can hack the RaiBlocks.net website. Also if you have to rely on a website you can no longer consider RaiBlocks a decentralized network.

Other solutions

1) A payment to be accepted should require a vote with a minimum weight quorum.
It's difficult to establish a correct quorum, and if that quorum is offline no payments will be processed.

2) A payment need to be accepted by some trusted representatives.
This will stop the network on being decentralized. Also, if those representatives are offline the payments are not processed.

7. Why Bitcoin is not vulnerable to this type of attack
Simply because an attacker, to be trusted by a merchant, would require to solve a very difficult puzzle for six times. An attacker cannot alter the difficulty of that puzzle.

8. Other observations

a) RaiBlocks is just Bitcoins without the Bitcoin securing algorithm. The creator of Bitcoin, Satoshi Nakamoto, describes the double spending problem in the original Bitcoin paper: https://Bitcoin.org/Bitcoin.pdf. The developer of RaiBlocks just thinks to solve the problem by ignoring the problem.

b) The official representatives of the RaiBlocks network own more than 52% of total voting weight, allowing the developer to manipulate every vote on his will.
Source: https://dev.RaiBlocks.net/page/representatives.php


9. References
https://RaiBlocks.net/media/RaiBlocks_Whitepaper__English.pdf
https://github.com/clemahieu/RaiBlocks/wiki/Double-spending-and-confirmation
"With e-currency based on cryptographic proof, without the need to trust a third party middleman, money can be secure and transactions effortless." -- Satoshi
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January 01, 2018, 04:46:45 PM
 #2

Thanks for the MITM analysis. Is your MITM attack scenario a problem for IOTA as well and not just XRB? If not, why not?
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January 01, 2018, 05:32:01 PM
 #3

True story.

From Whitepaper:
"RaiBlocks is a trustless..."

A lie after just three words:
- https://steemit.com/bitcoin/@coinfund/explaining-blockchain-how-proof-of-work-enables-trustless-consensus
- https://bitcointalk.org/index.php?topic=1799665.60
- https://www.bitcoinbeginner.com/blog/raiblocks-needs-proof-of-stake/
- https://bitcointalk.org/index.php?topic=2672512.0
- https://steemit.com/raiblocks/@selfdrivingsandp/security-thoughts-on-raiblocks

IOTA coordinator = ByteBall trusted peers = RaiBlocks representatives = TOTAL CENTRALIZATION of consensus so of your coins.

Now tell me please, XRB works without having to trust representatives, right?

Game over.

Conclusion: DAG is the past, not the future.

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CyraxMax
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January 01, 2018, 05:51:16 PM
 #4

To all newcomers to Raiblocks

If you are new to Bitcointalk you may not realize how things work around here. Ask yourself this - why would someone who states that Raiblocks is crap/a pump and dump/full of flaws, etc. keep coming on here posting the same thing over and over again even though it has already been addressed numerous times before? Because they care about noobs and want to protect them from the big bad Raiblocks dev stealing their money? LOL, I think not.

There are 3 reasons for these FUD (Fear, Uncertainty, Doubt) posts:

1) Usually the person posting the FUD is actually holding the coin they are bashing - they make negative posts in an attempt to drive down the price so they can buy more.

2) They may also be holding a competing coin (IOTA for example) and they are angry that another coin has taken the spotlight away from them. You can spot people in this group as they will often have a signature advertising another coin or they will shill it directly in their post.

3) Pure saltiness. This forum has really gone downhill over the years and it is now filled with desperate, salty children who are angry that they missed the boat.

The world is full of toxic people who cannot accomplish anything on their own so they try to make themselves feel better by attacking other people's accomplishments. Ignore them and DO YOUR OWN RESEARCH!

Blacklisted users that are here to spread FUD:

fracas: https://bitcointalk.org/index.php?action=profile;u=1018688;sa=showPosts
xibeijan: https://bitcointalk.org/index.php?action=profile;u=110938;sa=showPosts
djpitagora: https://bitcointalk.org/index.php?action=profile;u=1264506;sa=showPosts
cr1pton00b: https://bitcointalk.org/index.php?action=profile;u=1557981;sa=showPosts

read their past posts and decide for yourself.
This is a coordinated attack against XRB and we need to stop this shit show.
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January 01, 2018, 05:53:51 PM
 #5

The top 11 representatives currently have 31.5% stake, not 52%...

Also the representatives are voted upon -- if they are malicious they can always be voted down. Granted there are 8 default representatives so they may accumulate lots of votes of people who didn't choose the default, but currently they only make up 17.5%
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January 03, 2018, 11:41:51 PM
 #6

Quote
The payment receiver, if his network has not been compromised, will then know if he can trust the payment or not, and will ship the good accordingly. This system leads to an unsolvable problem.

5. The Man in the Middle attack.

If an attacker succeeds to put himself between a merchant and the RaiBlocks network he can just filter the double spending payment packets, and the merchant will never know that he is receiving a double spending. The Raiblocks network will discard that payment while the merchant will accept it.

https://s18.postimg.org/7pnm6yweh/doublespend.png

6. Solutions proposed by the RaiBlocks team

a) The merchant should ask a vote for each payment he receives and wait for the confirmation.
The problem is that the attacker could manipulate the vote by telling the merchant that only his peers are connected to the network thus he will win the vote by filtering only his votes. Plus, asking a vote for each payment would cause a huge increment of bandwidth usage that many peers could not handle.

b) The merchant should have a remote node verifying the payment.
The attacker could just attack that network too.
Yes, a man in the middle can make you think all he want, Bitcoin IS vultnerable to that too and the 6 confirmations other than tiring the middle man is not a solution, the solution is to use SSL between peers.

This is not a security issue with RaiBlocks but all over the Internet if you dont use a secure connection
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January 03, 2018, 11:52:02 PM
 #7

Why RaiBlocks is not secure.

In this article I will try to explain why RaiBlocks is not secure and why its technology is any better neither comparable than the Bitcoin technology.

1. Decentralized payments
Decentralized payment networks are, in opposite of centralized payment network like banks, a way to secure your money without having the risk that a central authority could steal your money or manipulate the money in the market. Decentralized payment networks use asymmetric cryptography to ensure that you are the only one who can spend your money.
When you create a cryptocurrency wallet you are given a public key and a private key. The public key allows other people to send you money, while the private key allows you to spend them.  

But how other users know how many money do you have?
To accomplish this, every user of a decentralized payment network must download the entire transaction database which is replicated on the entire network. When you send a payment over the network, it is received by all the users connected on the network allowing them to know your updated wallet balance and allowing them to discard that payment if you don’t own enough funds.

2. Double Spending
The main problem that afflicts decentralized payment networks is double spending: the ability of an user to spend his money multiple times. In the real world, when you pay someone you give him the real cash. In a centralized payment network, like VISA, the central database is updated every time you make a payment, and they will not allow you to spend more money than your balance.
In a decentralized payment network what happens if you send the same amount of money on two users of the network in the same time? Since their database takes time to update for a small amount of time they both will receive the payment and accept it. In a later moment, when the network tells them that you double spent your money, they will cancel the payment, this is possible because every payment is broadcasted to the entire network, not only the receiver.
Without any other security layer, if a malicious user double spends his money and succeeds to block a payment receiver to know that he sent the same money to someone else (or even better, to another wallet of his own), the payment receiver will accept the payment and ship the good. This is so bad, since even a network connection problem could temporarily lead a payment receiver to undetect double spendings.

3. The Bitcoin Solution
To solve this problem, Bitcoin relays on the fact that after you receive a payment you need to wait a confirmation block, the confirmation block tells you that the payment you have received has been accepted by the entire network and you are allowed to spend it. To create a confirmation block, the miners create a list of all the pending unconfirmed transactions and solve a very difficult mathematical puzzle. The miner who solves the puzzle first, sends the block he found with all the list of confirmed transaction and the solved puzzle to the network, the users of the network will check if the puzzle solution is valid and then reward him with some free coins plus the sum of all the payment fees of each transaction in the block. The miners must create a valid list of payments to be accepted by the network, so double spend attempts are just discarded.

In Bitcoin an attacker,  to make a succesful double spending, should not just stop you from receiving a double spend attempt message, but he should also solve the puzzle to create a confirmation block in a reasonable time frame. Currently solving that puzzle with a single computer would take years; at writing time to solve that puzzle a network of thousands dedicated hardware is used, an attacker would require a billionaire investment to replicate that network. Moreover, it would not only need to create one confirmation block but six of them (6 confirmation blocks are required in the Bitcoin network to trust a payment).

Critics of Bitcoin say that all the computation power used to make the Bitcoin network secure is just a waste of energy because there are other reliable and better technologies. Is that true?

4. What is RaiBlocks?
RaiBlocks is a crypto currency that advertises itself as a fast, fee-less and secure currency, unlikely Bitcoin which is currently slow and high-fee (usually requires 1 hour to a full payment confirmation).
But the key point is that Bitcoin has been made that way to guarantee his users a certain amount of security to prevent double spendings.
 
RaiBlocks completely ignores the Bitcoin technology and relies on a special version of the Proof Of Stake concept.
When you receive a payment in the RaiBlocks network you have to wait a certain amount of time to be sure that a double spending has not been attempted (and remember the first problem, if an attacker stops you from receiving the double spend you would never know!)
When a double spent is detected, the RaiBlocks network starts a vote. Every peer connected to the network vote to accept the payment A or payment B; every user vote is weighted with the amount of his balance. Usually each peer votes for the first transaction he receives. The transaction which the sum of votes reaches the 51% of online amount of currency wins. The winning transaction is accepted by the network and the other one is discarded. (Reference https://github.com/clemahieu/RaiBlocks/wiki/Double-spending-and-confirmation)

The payment receiver, if his network has not been compromised, will then know if he can trust the payment or not, and will ship the good accordingly. This system leads to an unsolvable problem.

5. The Man in the Middle attack.

If an attacker succeeds to put himself between a merchant and the RaiBlocks network he can just filter the double spending payment packets, and the merchant will never know that he is receiving a double spending. The Raiblocks network will discard that payment while the merchant will accept it.



6. Solutions proposed by the RaiBlocks team

a) The merchant should ask a vote for each payment he receives and wait for the confirmation.
The problem is that the attacker could manipulate the vote by telling the merchant that only his peers are connected to the network thus he will win the vote by filtering only his votes. Plus, asking a vote for each payment would cause a huge increment of bandwidth usage that many peers could not handle.

b) The merchant should have a remote node verifying the payment.
The attacker could just attack that network too.

c) The merchant should ask the RaiBlocks.net website if the payment has been accepted.
The attacker can hack the RaiBlocks.net website. Also if you have to rely on a website you can no longer consider RaiBlocks a decentralized network.

Other solutions

1) A payment to be accepted should require a vote with a minimum weight quorum.
It's difficult to establish a correct quorum, and if that quorum is offline no payments will be processed.

2) A payment need to be accepted by some trusted representatives.
This will stop the network on being decentralized. Also, if those representatives are offline the payments are not processed.

7. Why Bitcoin is not vulnerable to this type of attack
Simply because an attacker, to be trusted by a merchant, would require to solve a very difficult puzzle for six times. An attacker cannot alter the difficulty of that puzzle.

8. Other observations

a) RaiBlocks is just Bitcoins without the Bitcoin securing algorithm. The creator of Bitcoin, Satoshi Nakamoto, describes the double spending problem in the original Bitcoin paper: https://Bitcoin.org/Bitcoin.pdf. The developer of RaiBlocks just thinks to solve the problem by ignoring the problem.

b) The official representatives of the RaiBlocks network own more than 52% of total voting weight, allowing the developer to manipulate every vote on his will.
Source: https://dev.RaiBlocks.net/page/representatives.php


9. References
https://RaiBlocks.net/media/RaiBlocks_Whitepaper__English.pdf
https://github.com/clemahieu/RaiBlocks/wiki/Double-spending-and-confirmation

look at pascal a much better one
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January 11, 2018, 09:34:52 AM
 #8

Bitcoin which code is only one page long had a bug, Ethereum got hacked 2 times, and you guys think Raiblocks which is on the market for less than 4 months is secure enough to trust 3 or 4 billion of your money to it...? It will get tested. Dont worry. And if it fails it goes to 0 , if it succeeds if will be a trillion dollars worth. There is no hush. if someone tells you to buy now or you miss the train , that person is lying to you. now it 3 billion marketcap. If Raiblocks can keep its promise of being secure it will be worth a few trillion. If you fomo and want to get in now , then you will just be the test subject.

your decision. And yes it is pretty centralised.
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January 11, 2018, 07:52:59 PM
 #9

Why RaiBlocks is not secure.

In this article I will try to explain why RaiBlocks is not secure and why its technology is any better neither comparable than the Bitcoin technology.

1. Decentralized payments
Decentralized payment networks are, in opposite of centralized payment network like banks, a way to secure your money without having the risk that a central authority could steal your money or manipulate the money in the market. Decentralized payment networks use asymmetric cryptography to ensure that you are the only one who can spend your money.
When you create a cryptocurrency wallet you are given a public key and a private key. The public key allows other people to send you money, while the private key allows you to spend them. 

But how other users know how many money do you have?
To accomplish this, every user of a decentralized payment network must download the entire transaction database which is replicated on the entire network. When you send a payment over the network, it is received by all the users connected on the network allowing them to know your updated wallet balance and allowing them to discard that payment if you don’t own enough funds.

2. Double Spending
The main problem that afflicts decentralized payment networks is double spending: the ability of an user to spend his money multiple times. In the real world, when you pay someone you give him the real cash. In a centralized payment network, like VISA, the central database is updated every time you make a payment, and they will not allow you to spend more money than your balance.
In a decentralized payment network what happens if you send the same amount of money on two users of the network in the same time? Since their database takes time to update for a small amount of time they both will receive the payment and accept it. In a later moment, when the network tells them that you double spent your money, they will cancel the payment, this is possible because every payment is broadcasted to the entire network, not only the receiver.
Without any other security layer, if a malicious user double spends his money and succeeds to block a payment receiver to know that he sent the same money to someone else (or even better, to another wallet of his own), the payment receiver will accept the payment and ship the good. This is so bad, since even a network connection problem could temporarily lead a payment receiver to undetect double spendings.

3. The Bitcoin Solution
To solve this problem, Bitcoin relays on the fact that after you receive a payment you need to wait a confirmation block, the confirmation block tells you that the payment you have received has been accepted by the entire network and you are allowed to spend it. To create a confirmation block, the miners create a list of all the pending unconfirmed transactions and solve a very difficult mathematical puzzle. The miner who solves the puzzle first, sends the block he found with all the list of confirmed transaction and the solved puzzle to the network, the users of the network will check if the puzzle solution is valid and then reward him with some free coins plus the sum of all the payment fees of each transaction in the block. The miners must create a valid list of payments to be accepted by the network, so double spend attempts are just discarded.

In Bitcoin an attacker,  to make a succesful double spending, should not just stop you from receiving a double spend attempt message, but he should also solve the puzzle to create a confirmation block in a reasonable time frame. Currently solving that puzzle with a single computer would take years; at writing time to solve that puzzle a network of thousands dedicated hardware is used, an attacker would require a billionaire investment to replicate that network. Moreover, it would not only need to create one confirmation block but six of them (6 confirmation blocks are required in the Bitcoin network to trust a payment).

Critics of Bitcoin say that all the computation power used to make the Bitcoin network secure is just a waste of energy because there are other reliable and better technologies. Is that true?

4. What is RaiBlocks?
RaiBlocks is a crypto currency that advertises itself as a fast, fee-less and secure currency, unlikely Bitcoin which is currently slow and high-fee (usually requires 1 hour to a full payment confirmation).
But the key point is that Bitcoin has been made that way to guarantee his users a certain amount of security to prevent double spendings.
 
RaiBlocks completely ignores the Bitcoin technology and relies on a special version of the Proof Of Stake concept.
When you receive a payment in the RaiBlocks network you have to wait a certain amount of time to be sure that a double spending has not been attempted (and remember the first problem, if an attacker stops you from receiving the double spend you would never know!)
When a double spent is detected, the RaiBlocks network starts a vote. Every peer connected to the network vote to accept the payment A or payment B; every user vote is weighted with the amount of his balance. Usually each peer votes for the first transaction he receives. The transaction which the sum of votes reaches the 51% of online amount of currency wins. The winning transaction is accepted by the network and the other one is discarded. (Reference https://github.com/clemahieu/RaiBlocks/wiki/Double-spending-and-confirmation)

The payment receiver, if his network has not been compromised, will then know if he can trust the payment or not, and will ship the good accordingly. This system leads to an unsolvable problem.

5. The Man in the Middle attack.

If an attacker succeeds to put himself between a merchant and the RaiBlocks network he can just filter the double spending payment packets, and the merchant will never know that he is receiving a double spending. The Raiblocks network will discard that payment while the merchant will accept it.

https://s18.postimg.org/7pnm6yweh/doublespend.png

6. Solutions proposed by the RaiBlocks team

a) The merchant should ask a vote for each payment he receives and wait for the confirmation.
The problem is that the attacker could manipulate the vote by telling the merchant that only his peers are connected to the network thus he will win the vote by filtering only his votes. Plus, asking a vote for each payment would cause a huge increment of bandwidth usage that many peers could not handle.

b) The merchant should have a remote node verifying the payment.
The attacker could just attack that network too.

c) The merchant should ask the RaiBlocks.net website if the payment has been accepted.
The attacker can hack the RaiBlocks.net website. Also if you have to rely on a website you can no longer consider RaiBlocks a decentralized network.

Other solutions

1) A payment to be accepted should require a vote with a minimum weight quorum.
It's difficult to establish a correct quorum, and if that quorum is offline no payments will be processed.

2) A payment need to be accepted by some trusted representatives.
This will stop the network on being decentralized. Also, if those representatives are offline the payments are not processed.

7. Why Bitcoin is not vulnerable to this type of attack
Simply because an attacker, to be trusted by a merchant, would require to solve a very difficult puzzle for six times. An attacker cannot alter the difficulty of that puzzle.

8. Other observations

a) RaiBlocks is just Bitcoins without the Bitcoin securing algorithm. The creator of Bitcoin, Satoshi Nakamoto, describes the double spending problem in the original Bitcoin paper: https://Bitcoin.org/Bitcoin.pdf. The developer of RaiBlocks just thinks to solve the problem by ignoring the problem.

b) The official representatives of the RaiBlocks network own more than 52% of total voting weight, allowing the developer to manipulate every vote on his will.
Source: https://dev.RaiBlocks.net/page/representatives.php


9. References
https://RaiBlocks.net/media/RaiBlocks_Whitepaper__English.pdf
https://github.com/clemahieu/RaiBlocks/wiki/Double-spending-and-confirmation
In fact, currencies based on DAG technology have a problem in decentralizing the network and distributing the coins, ie there is no incentive for people to run full nodes, but RaiBlocks was the best on this issue (they could have done better, but it was a good solution, just need a bigger network now)

Recently I found a PRE-ANN of Stone
I do not know if it's a scam ...
But they can solve this problem
only you do not have any code yet...
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January 19, 2018, 08:43:49 AM
 #10

You put a lot effort in this. It is super clear this way that RaiBlocks isn’t safe, no one can argue with that now. Greatly done and I learned a lot the same time. Thanks
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January 23, 2018, 08:08:41 AM
Last edit: January 23, 2018, 09:22:10 AM by CRED.me
 #11

RaiBlocks:

RaiBlocks is a highly flawed design that was debunked by experts (including @gmaxwell Gregory Maxwell Core Bitcoin developer) in 2015 as linked below. Heck Vitalik and AnonyMint even helped them think of the name change from Blocklattice to RaiBlocks.

I heard about raiblocks for quite sometime, and many people told me how profitable it would be in future.

Fast forward to 2016, I dont see a single discussion about Raiblocks. Why is that?

Is raiblocks gone?

Tl;dr - what happened to raiblocks?

Because you didn't listen to TPTB's (i.e. @AnonyMint's) technical analysis of RaiBlocks:

This design was already discussed and there are serious doubts about its viability:

https://bitcointalk.org/index.php?topic=1219264.0

I find it deceiving that the lead developer did not reference the prior thread in his OP. And has created new threads to spam the Altcoin Discussion forum (ostensibly to bury the above linked serious technical analysis).


Also in my opinion, you are fundamentally responsible for being your own block emitter. If you want to spend a cryptocurrency you obtained, and your blocks have not propagated enough you may need to provide the store with a large packet containing all the blocks/chains necessary to fully trace the inputs to your transaction for validation.

...

Thank you for your input. I look forward to hearing your design.

Your design is not secure in terms of all nodes (users' chains) seeing a consistent ordering, because the set of possibilities is unbounded and you can't disprove a negative in an unbounded universe. It is covered in my whitepaper. Raiblocks already invented what you did, and they tried to arrive at consensus with voting but @monsterer and I explained why that was flawed.


Because it's the coin that comes closest to removing middlemen while still failing and being a scam:

Iota didn’t come any closer than anything else. I challenged CfB to remove the centralized Coordinator (or any obfuscation of it) and afaik they haven’t because they can’t. The consensus will not converge without it. You've got altcoins out there with $billions mcaps which are entirely BS technobabble including RaiBlocks.
neinnein125
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January 23, 2018, 08:12:12 AM
 #12

I heard this from many people and they keep suggesting raiblocks and iota are both failed concepts comparing to regular blockchain. These concerns held me back from investing into.

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CryptoKuv
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August 23, 2018, 09:05:38 AM
 #13

NANO MANIPULATION

​Colin dumped millions of xrb in May from private wallets when there was Nano Binance Competition (100kk+ USD VOL.)
He chose a good moment for send to Binance. Who gives a dam about Nano.
I'll explain you so maybe you'll figure out.

Old developer donation account:
https://www.nanode.co/account/xrb_3wm37qz19zhei7nzscjcopbrbnnachs4p1gnwo5oroi3qonw6inwgoeuufdp

The first address that recieved a nano from Old Developer Donation was this:
https://www.nanode.co/account/xrb_3pg6xswkroybxydyzaxybb1h531sx34omiu7an9t9jy19f9mca7a36s7by5e
(Colin's account)

https://www.nanode.co/account/xrb_3pg6xswkroybxydyzaxybb1h531sx34omiu7an9t9jy19f9mca7a36s7by5e
(Colin's account connected to the old developer donation account)

2. https://www.nanode.co/account/xrb_11iaqa1oppdxzawrbuzh4m5y78i9zngnhwp8urpup97fsf7k8e84gf61ei75
(Colin's private wallet)

3. https://www.nanode.co/account/xrb_31kxdcjafw5k5w4u3h9uo7yctkawcjkegnwaqjr1jqq3tanu8bp6m4obru7a
(Colin's private wallet)

2. and 3. are connected to the 1.

https://www.nanode.co/block/BE548A457F28A42119FB22373303690DAB5F40811E4E87643A15267827D6C138
This is the first transaction when old developer donation account sent to this account back in 2016.

Picture is from 02.12.2017
https://i.imgur.com/KEwsZsY.jpg

Check yourself these address, before writing fake or anything similar.
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