RE: SPK Network Funding Proposal

[jonsnow1983]

Hello Arcange hope all is great. Could you explain like 5 the possible security issues you are addressing for the non technical peeps like myself? Regards.

Comments

[arcange]

OK, in my answer I take it that you have some knowledge of blockchain technology and how DPOS works. Here are some simple security issues to consider:

Scenario 1:

• SPK network and its users put money (tokens) into the PPY side-chain
• unknown PPY witnesses (collude and) change the blockchain code, steal user's tokens, sell them and disappear

Scenario 2:

• bad actor buy a lot of worthless PPY token
• it then votes for its own witnesses to get a supermajority
• it then applies scenario 1

Doesn't Scenario 2 remind you of something?

And there are still other possible scenarios like all current (unknown to me) witnesses being already controlled by one entity.

Am I paranoid? Yes! But when it comes to security, paranoia is a must.

[urun]

So it relies on PPY token? I thought it would be a fork or something.

[arcange]

Yes, up to now it relies on PPY, hence my concern about security