Following a series of hacker attacks, THORChain altered its immune system. In the future, nodes will have more opportunities to apply the emergency brake in the event of suspicious activity. Thereby protecting the network from fraudulent processes. The ace in your sleeve: attacks should be less valuable than legitimate bug bounty work. Meanwhile, after its dive, it flushes the RUNE course higher up.
The THORChain developers have had a busy few weeks. In July, two hacks exposed significant security flaws in the cross-chain liquidity protocol. It did not only impacted the price of the native cryptocurrency RUNE and enriched some hackers but also shook investors’ trust in THORChain. The thriller THORChain about the self-service shop appears mentioned.
You can’t stop cybercrime, but you can reduce the attack vectors by adjusting the adjusting screws. As a result of the previous hacks, THORChain has responded by announcing a series of changes designed to make the protocol less vulnerable to attacks. Moreover, to allow nodes to respond more quickly in suspected cases. In exchange, nodes are given more power, the network status is checked more frequently, and funds leaving the system are throttled.
The changes are ultimately intended to make any attacker believe that an attack on ThorChain is not worth attempting. Instead, they should simply ask for a bounty and be compensated.
The significant use of Automatic Credit Check
Nodes will use an automatic credit check in the future to counter-check wallet stocks and report negative deviations between the on-chain account balance and what THORChain believes. Incoming transfers are totaled and then subtracted from outgoing transactions. The network receives notifications from the nodes when there is a noticeable deviation. All deposits and withdrawals automatically halt if they will obtain a two-thirds majority vote. Every one to two minutes, the scan occurs automatically.
Furthermore, there is a proactive mode in which nodes perform credit checks. This mode is more powerful and will detect bankruptcies before they happen. When a node attempts to sign an outgoing transaction (txOut), it first determines whether executing the txOut will cause the vault to become insolvent. If this is the case, he refuses authorization and declares bankruptcy.
The increased security comes at a cost
In the near future, the changes may cause THORChain to slow slightly and have a temporary negative impact on the user experience. The protocol will almost certainly have to pause more frequently, and swap processing may take longer in individual cases than before. Once the network is stable, the measures can gradually reduce and user-friendliness improves. Until then, the developers clearly show their dismissiveness: the world is currently a battlefield, and THORChain will bring its best armor to the fight until the battle is won.
The recent incidents have not defeated the RUNE course without a fight. RUNE has more than doubled in value since the price crash two weeks ago. The weekly counter is currently at 6.80 US dollars, a 74 percent increase.
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