51% Attack Risk in Handshake (HNS blockchain) [Let’s Discuss]
A top hole skeptics put towards the Handshake protocol is that it is a newer and smaller POW (proof of work) blockchain and can be “easily” taken over with a 51% attack.
It was brought up again recently on twitter:
And I was able to get Matthew Zipkin back on the show to discuss.
Main summary (Mike’s interpretation): a 51% attack needs to be done w/ equipment that is different from the standard bitcoin SHA256 gear. So that person would need to get enough of this special equipment to take 51%. The 51% would only be for the blocks that it is able to maintain that control. It cannot access the wallets / private keys - so it could not modify DNS records of the names on the network. Biggest risk identified could be 51% of a valuable auction for the 5 days the auction is on to win that auction w/o others bidding. To go back in time enough to modify older auctions would be very , very, expensive / close to impossible.
Here are the links Matt mentioned during the talk: