How can Hive be attacked and what would happen if it did?
There are people who are regularily thinking about this and it is something that we all should be mindful of. Howver, if that did happen, it might not work out as the attackers think.
In this video I discuss some scenarios with possible outcomes.
▶️ 3Speak
The distribution of Hive across the top stake holders makes it hard for anyone to really control Hive. So I think there could be some minor issues if things did happen but I have a feeling that the blockchain as a whole would be fine.
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i am thinking about unintended consequences, as attacking Hive will just bring it on the spot, atracting even more people after the attackers will fail. heck, we should organize some hackaton or contest to see what happen, like a 'What If' contest where you ask people to find vulnerabilities and reward them.
I dont think the attack would come from a hack. The blockchain cant be hacked. In fact, the software is open source.
To me it is playing out the money attack. Where is the vulnerability there?
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Just playing scenarios. But I heard people saying that you can take over if you have enough money. Still, my answer to them is, if you have that much money, why would you bother with Hive.
There's always an URL, a server, or a doxxed person to target. It would be interesting to see a real-life fight take off. The Chain should be fine, Peakd and SPL would be in trouble, and you can throw ecency out of the app store. Would be interesting to witness for sure.
A lot of times the real edge stuff caught a lot of downvotes and got distilled by the different sections of the community in the past. That will probably change with the emergence of breakaway communities through SMTs or the Speak Network.
That is true. Of course, a new URL can easily be spun up. The app stores are crucial but the apps can still be distributed.
In fact, the different files should be available for download in Discord by the groups just in case.
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Discord is the worst place on earth considering security of communication.
If we build smart dynamic routing into the deepest layers of the web and have more than one physical connection to choose from eventually, well that would set us on the right path.
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Summary:
In this video, the speaker discusses the potential scenario of an attack on Hive and its implications. He compares Hive to Bitcoin, highlighting Hive's features like offering immutable text storage, which poses a threat to existing systems. The speaker believes that Hive's decentralization makes it difficult to regulate and take down, unlike Bitcoin. He explores possible ways an attack on Hive could occur, such as a government intervention or a financial attack. The speaker also mentions the potential response from the Hive community, emphasizing the possibility of forking as a defensive measure.
Detailed Article:
The video starts with the speaker delving into the concept of attacking high and raises the question of what would happen if Hive, a decentralized blockchain platform, were to be attacked. He connects this discussion to the broader theme of threats posed by cryptocurrencies like Bitcoin to traditional systems such as the banking industry, governments, and Wall Street. The speaker alludes to the Fear, Uncertainty, and Doubt (FUD) surrounding cryptocurrencies due to the disruptive potential they hold.
He emphasizes the unique attributes of Hive, such as its ability to offer immutable text storage, demonstrating the platform's versatility beyond just financial transactions. The speaker underlines that Hive's decentralized nature makes it challenging to regulate, unlike Bitcoin, which faces limitations due to high fees and network slow-downs. He highlights the censorship resistance aspect of Hive, citing it as a strength that could deter potential attacks.
Furthermore, the speaker explores potential attack strategies on Hive, considering both financial attacks and governmental interventions. He discusses the complexities of executing a financial attack on Hive, pointing out the intricacies and challenges involved in accumulating sufficient stake to pose a threat. Moreover, he dismisses the idea of governmental regulation as a feasible option due to Hive's decentralized structure.
The speaker also touches upon the community response to a hypothetical attack on Hive, mentioning the possibility of a fork as a defensive tactic. He underscores the resilience of the Hive community and its historical willingness to take evasive action in the face of threats. The video closes with the speaker inviting viewers to share their thoughts on the topic, leaving room for engagement and discussion within the community.
In essence, the video presents a thought-provoking analysis of the potential vulnerabilities and strengths of Hive in the face of an attack, emphasizing the platform's decentralized architecture as a key factor in its resilience. The speaker highlights the intricate dynamics of the cryptocurrency space, underscoring the complexities involved in targeting and subduing decentralized networks like Hive.
Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.
Credit: cmmemes
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