How secure is the individual's data here?
That this project will not use someone else's info in other aspects?
Or is it really zero-prone to hacking attacks?
Most of the design proposals submitted to date are not truly decentralized and require privileged “Witness Nodes” to reduce the possibility of various attack vectors and to create an “official” order of transactions, which otherwise might be open to interpretation. These Witness Nodes have to be appointed by the network’s developers or elected by its users. These central points of control and failure are obviously a serious design flaw for a system that claims to be decentralized and resilient to political control.
CyberVein solves this flaw by replacing Witness Nodes with an algorithmic solution based on Genesis Smart Contracts. Genesis Smart Contracts are contracts that are written into the initial entries of the ledger, and which serve as an agreed upon reference point for all future transactions. All transactions occurring in the network are not just linked to two predecessors, but also to these Genesis Contracts, creating an agreed upon sequence of events and an objective “timestamp”, as it is the case with traditional blockchains.
On the databases, information stored CANNOT be mutilated and has history of all modifications/additions in time stamps. Consensus for information is created thru trusted sources voted by the community or by the developers themselves.
However, in order to prevent majority attacks, most DAG ledgers implement a version of Bitcoin’s Proof-of-Work, to attach an artificial cost to transaction verification. This is proven to render attacks economically infeasible. Alas, PoW is an energy-costly, and otherwise useless process, which makes blockchains inefficient.
Since disk space is a scarce resource, PoC serves as a barrier to outcompete other nodes in the verification process, making attacks costly and infeasible. CV solves this by introducing a new kind of DAG-specific consensus algorithm called Proof-of-Contribution. Proof of Contribution measures the amount of disk-space a node donates to store parts of the ledger’s transaction history (or ledger "shards"), and compensates accordingly.
Hope this info helped! This project is rising and will soon be revolutionary.
