SUQA will cooperate with KMD to convert POW to DPOW to prevent 51% attacks

In the first half of 2018, crypto mining attacks on different blockchains increased by 956% compared to 2017. If a coin or token is not secure, it is only a matter of time before it is hacked. There have been some successful attacks in the past that prove this, and on September 13-14, 2018, Ravencoin was double-attacked by morally bankrupt attackers.

Any mining pool or individual who can generate more mining power than the rest of the network can tamper with the network. They can't spend your funds because that requires your private key, but they can spend their own funds twice, so protecting the core assets of the project is much more important than ever.

To give an example of how this issue could affect cryptocurrencies and possibly exchanges, a little-known cryptocurrency called AurumCoin (AU) claimed that it was hit by a 51% attack and the exchange listed on AU, Cryptopia, lost 15,752.26 AU (~$550,000 at the time). The hacker sent the coins to an exchange and sold them for another currency, then using premium hashing power, they were able to reverse this transaction by changing the state of new blocks and the entire blockchain.

Now that we understand the importance of this issue, let’s look at how SUQA is preparing to address this threat:

The SUQA Foundation has partnered with the Komodo platform to utilize a unique security mechanism to protect its own blockchain. Essentially, the hashing power of the Bitcoin network is used to protect the SUQA blockchain. This is achieved by storing a backup of the SUQA blockchain into the Bitcoin ledger.

Every ten minutes (the average Bitcoin block time), a snapshot of the entire SUQA blockchain is taken. This snapshot is then written into a block on the Bitcoin blockchain. This process is called notarization, and it is the backbone of Komodo's security mechanism. The Komodo Platform's Notary Nodes perform the technical work required to successfully complete notarization.

The notarization process is crucial because it enables SUQA to restore the SUQA blockchain from any previous point in time from which the backup was created. In the event of an attack, the chain will simply revert to the most recently verified backup saved on the Bitcoin blockchain. Therefore, if an attacker wanted to compromise and attempt to make any changes to the SUQA blockchain, the attacker would need to effectively overwhelm (>51%) the Bitcoin network in order to destroy the SUQA backups before causing any disruption to the SUQA blockchain.

KMD 51% Attack Prevention Technology Original Text: https://komodoplatform.com/51-attack-how-komodo-can-help-prevent-one/