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Scam Alert

Zcash Spam Attack, Chain Increased In Size To 100GB

October 6, 2022 - Around 2 mins mins to read
An unidentified spammer has wreaked havoc with Zcash node operators by filling transaction blocks with myriad shielded transaction outputs. Many people think that this is just a FUD created to attract attention.
image 532

Zcash is a privacycoin which, unlike popular blockchains like Bitcoin and Ethereum, allows users to obscure who they are sending money to and how much.

Since June or July, the network has been suffering from a spam attack in which attackers have been submitting massive transactions that quickly fill up block space.

The chain has exploded in size, nearly tripling to more than 100GB since the attack began. Unlike other chains which are prohibitively expensive to attack, attacker is estimated to be spending roughly $10 a day to execute the attack.

The spammers’ motives are still unknown but some in the community think this is just a FUD created to get Zcash noticed for a while.

Both Electric Coin and the Zcash Foundation conduct regular audits to assess the security of the blockchain. The blockchain is also routine upgraded to accommodate present and future use cases.

In May 2022, the blockchain was upgraded to Network Upgrade 5, which introduced a new zero-knowledge system called Halo 2.

Zcash

After Ethereum successfully upgraded The Merge, in a recent video chat, the Ethereum founder Vitalik Buterinexpressed his hope that all blockchains including Dogecoin and Zcash could pass on proof of stake.

When asked if Zcash would consider switching to PoS in the future, the CEO of Electric Coin Company said he is waiting to see how Ethereum appreciates since the upgrade.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Foxy

CoinCu News

Scam Alert

Zcash Spam Attack, Chain Increased In Size To 100GB

An unidentified spammer has wreaked havoc with Zcash node operators by filling transaction blocks with myriad shielded transaction outputs. Many people think that this is just a FUD created to attract attention.
image 532

Zcash is a privacycoin which, unlike popular blockchains like Bitcoin and Ethereum, allows users to obscure who they are sending money to and how much.

Since June or July, the network has been suffering from a spam attack in which attackers have been submitting massive transactions that quickly fill up block space.

The chain has exploded in size, nearly tripling to more than 100GB since the attack began. Unlike other chains which are prohibitively expensive to attack, attacker is estimated to be spending roughly $10 a day to execute the attack.

The spammers’ motives are still unknown but some in the community think this is just a FUD created to get Zcash noticed for a while.

Both Electric Coin and the Zcash Foundation conduct regular audits to assess the security of the blockchain. The blockchain is also routine upgraded to accommodate present and future use cases.

In May 2022, the blockchain was upgraded to Network Upgrade 5, which introduced a new zero-knowledge system called Halo 2.

Zcash

After Ethereum successfully upgraded The Merge, in a recent video chat, the Ethereum founder Vitalik Buterinexpressed his hope that all blockchains including Dogecoin and Zcash could pass on proof of stake.

When asked if Zcash would consider switching to PoS in the future, the CEO of Electric Coin Company said he is waiting to see how Ethereum appreciates since the upgrade.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Foxy

CoinCu News