Can Blockchains Turn Blackhats Into Whitehats?

This morning’s Coin Sheet linked to a post on how to economically deincentivize hackers.

(If you’re interested in blockchain and its coinage, and you don’t yet get Coin Sheet from Dmitiry, you should. It’s dialed in.)

This post on hacking caught my eye because of my post yesterday on the original Bitcoin white paper, which (in the white paper itself, not my post) explains how it’s both technically difficult for dishonest nodes (or miners) to hack the blockchain, but they are also economically deincentiivized to do so.

Hackers are likely to make more money doing a great job securing and extending the Bitcoin blockchain like everyone else.

Mohit Mamoria is suggesting the same principles can work when it comes to denial-of-service (DDoS) attacks.

He points to a company called Gladius that is using the blockchain so that “thousands of computers across the globe can share their excess bandwidth, storage, and resources, in order to fight back against DDoS.”

And he asks essentially the same question as the Bitcoin paper addresses:

If users could earn from DDoS protection, and if it becomes more expensive for attackers to execute their botnet attacks, will it stop DDoS at its tracks eventually?

In other words, can we create blockchain systems and apps that make it technically hard and expensive to hack and create havoc and, as intriguingly, incentivize at least some of the blackhats to help strengthen the system?

(Photo source)

Leave a Reply