The distributed ledger is the fundamental technology behind blockchains like Bitcoin and Ethereum. The latest report, titled “Are Blockchains Decentralized?” by security research firm Trail of Bits, poses a question on the thesis of decentralization as the longstanding notion of blockchain, arguing that it may be more centralized-oriented than the crypto industry tends to think.
Immutability Subject to be Exploited
The report, commissioned by the US government’s Defense Advanced Research Projects Agency (DARPA), doubts immutability as commonly referred to as a primary feature of the distributed ledger technology, allowing cryptographic information to be unchangeable once being documented on the network.
“Immutability can be broken not by exploiting cryptographic vulnerabilities but instead by subverting the properties of a blockchain’s implementations, networking, and consensus protocols.”
The report found that expired Bitcoin nodes and unencrypted blockchain mining pools could make...
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