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Leicester

๐Ÿ‘ค Speaker
729 total appearances
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Crypto Talk Radio: Basic Cryptonomics
Leicester on Sybil Attacks in Crypto

They're controlling and directing the route pass.

Crypto Talk Radio: Basic Cryptonomics
Leicester on Sybil Attacks in Crypto

They're controlling and directing the oracles for price discovery.

Crypto Talk Radio: Basic Cryptonomics
Leicester on Sybil Attacks in Crypto

They're controlling everything that makes the thing valuable or not.

Crypto Talk Radio: Basic Cryptonomics
Leicester on Sybil Attacks in Crypto

Because of that, it would enable those bad actors if they exist,

Crypto Talk Radio: Basic Cryptonomics
Leicester on Sybil Attacks in Crypto

to essentially drain the project without you really realizing that that's happened.

Crypto Talk Radio: Basic Cryptonomics
Leicester on Sybil Attacks in Crypto

Unless somebody had enough inside information to see that that's happening.

Crypto Talk Radio: Basic Cryptonomics
Leicester on Sybil Attacks in Crypto

Now, how would somebody have that information?

Crypto Talk Radio: Basic Cryptonomics
Leicester on Sybil Attacks in Crypto

Let's take a random wild eyed scenario.

Crypto Talk Radio: Basic Cryptonomics
Leicester on Sybil Attacks in Crypto

Let's say that you had, let's say that Dow, right?

Crypto Talk Radio: Basic Cryptonomics
Leicester on Sybil Attacks in Crypto

happened to be led by people who happened to be in direct contact with the CEO, getting information from the CEO, or maybe another different random situation.

Crypto Talk Radio: Basic Cryptonomics
Leicester on Sybil Attacks in Crypto

Maybe that Dow was in communication with the HR person or a community person, somebody who was inside, right?

Crypto Talk Radio: Basic Cryptonomics
Leicester on Sybil Attacks in Crypto

They're talking to insiders.

Crypto Talk Radio: Basic Cryptonomics
Leicester on Sybil Attacks in Crypto

What if that exchange of information enabled that route where it enabled them to get access to information,

Crypto Talk Radio: Basic Cryptonomics
Leicester on Sybil Attacks in Crypto

not because they were trying to do it but they were given that information and it gave them the idea to then overtake the vast majority of nodes so that they could initiate a 51 attack because in their minds they're trying to protect the chain they're trying to protect people they're trying to keep people safe they're trying to they got the best of intentions they're vigilantes

Crypto Talk Radio: Basic Cryptonomics
Leicester on Sybil Attacks in Crypto

So that Dow again, and I picked a random state of Wyoming, but it could be any state.

Crypto Talk Radio: Basic Cryptonomics
Leicester on Sybil Attacks in Crypto

But that Dow, let's say they set up enough nodes to be able to execute a 51 percent attack because they're thinking they're trying to control.

Crypto Talk Radio: Basic Cryptonomics
Leicester on Sybil Attacks in Crypto

Because they're trying to prevent somebody else whose nodes are in, say, South Africa or Dubai from doing it.

Crypto Talk Radio: Basic Cryptonomics
Leicester on Sybil Attacks in Crypto

But the point is that the civil attack can impact any project where there is no, we have some form of transparency in terms of who's all the players at the front of it.

Crypto Talk Radio: Basic Cryptonomics
Leicester on Sybil Attacks in Crypto

I don't know that there's full transparency in any of them with the node level.