Monitoring mining pools and rental marketplaces can prevent potential attacks on blockchains. The developers of this solution were researchers at the Digital Currency Lab at the Massachusetts Institute of Technology (MIT), reports The Block.
The 51% attack remains the most popular: the miner gains control over more than half of the hash rate, which gives him the opportunity to spend the same cryptocurrency twice. To address this issue, MIT researchers launched Pool Detective in December 2019.
The proxy server connects to 32 separate pools and collects data about their work. During the analysis process, developers identify “unexpected behavior or anomalies.” For example, they determine if the block being added to the chain is different from what is expected.
According to the developers, Pool Detective allows you to detect attacks before they happen. This solution is applicable to hash power rental marketplaces, which allow market participants not to buy mining equipment. MIT believes that attackers can use cheap power to attack the blockchain.
The researchers plan to expand the monitoring of mining pools by tracking not just blocks, but messages in peer-to-peer networks. Their content will allow you to better understand what kind of work the miners will get compared to the expected result.
The team also plans to develop a version of Pool Detective, which individual miners will launch for their own protection.