Yesterday, CoinWallet.eu conducted a stress test of the Bitcoin blockchain. Not only was our plan to see the outcome, but also to see how easy it would be for a malicious entity or government to create havoc for the Bitcoin community. As you will see from the analysis below, delayed transactions are not the only issue that Bitcoin users experienced. Surprisingly, executing tens of thousands of transactions that correctly propagate to the network simultaneously is not as easy as we had expected. One of the methods that was used to increase the kb size of our transactions was to send transactions consisting of numerous small outputs (usually 0.0001) to make a single transaction of 0.01. A simple transaction is usually 225-500 bytes, while many of our transactions were 18 kb (A number which limits the blockchain to 5 transactions per minute). In our preliminary testing this was effective, however in practice it caused our servers to crash. Throughout the day and evening, our strategy and methodology changed multiple times. Initially the plan was to spend 20 BTC on transaction fees to flood the network with as many transactions as possible. Due to technical complications the test was concluded early, with less than 2 BTC spent on fees. The events of yesterday were accomplished with less than €500. Timeline
11:57 GMT - Transaction servers initiated. Thousands of 700 kb transactions completed within the first 20 minutes. Transactions were used to break coins into small 0.0001 outputs.
12:30 GMT - Servers begin sending larger 18kb transactions.
14:20 GMT - Our servers begin to crash. It becomes apparent that BitcoinD is not well suited to crafting transactions of this size.
14:30 GMT - Our test transactions are halted while alternate solutions are created. The mempool is at 12 mb.
17:00 GMT - Alternate transaction sending methods are started. Servers are rebooted. Mempool has fallen to 4mb.
21:00 GMT - The stress test is stronger than ever. Mempool reaches 15 mb and more than 14000 transactions are backlogged. The situation is made worse by F2Pool selfishly mining two 0kb blocks in a row.
23:59 GMT - 12 hours after starting, the test is concluded. Less than 2 BTC (€434) is spent on the test in total.
The following graph depicts the entire test from start to finish: https://anduck.net/bitcoin/mempool.png Observations Delayed confirmation times and large mempool buildups were not the only observation that came from our testing. Many more services were impacted than we had initially envisioned. Blockchain.info Over the past few months, Blockchain.info has become increasingly unreliable, however we are confident that yesterday's stress test had an impact on their website being offline or broken for 1/3 of the day. During periods where we sent excessive transactions, Blockchain.info consistently froze. It appeared as though their nodes were overwhelmed and simply crashed. Each time this occurred, the site would re-emerge 10-30 minutes later only to fail again shortly thereafter. Users of the blockchain wallet were unable to send transactions, login or even view balances during the downtimes. In response to our heavy Bitcoin usage, blockchain.info began to exclude certain transactions from their block explorer. This issue is explored further by the creators of Multibit, who can confirm that some transactions sent from their software were ignored by Blockchain, but were picked up by Blockr. Bitcoin ATMs Many ATMs operate as full nodes, however some ATMs rely on third party wallet services to send and receive transactions. The most prominent Bitcoin ATM of this type is Lamassu, which uses the blockchain.info API to push outgoing transactions from a blockchain.info wallet. Due to the blockchain.info issues, all Lamassu ATMs that use blockchain.info's wallet service were unavailable for the day. MultiBit Both versions of MultiBit suffered delayed transactions due to the test. Gary and Jim from MultiBit have created a full analysis from Multibit's perspective which can be read at https://multibit.org/blog/2015/06/23/bitcoin-network-stress-test.html The outcome was that transactions with the standard fee in Multibit HD took as many as 80 blocks to confirm (Approximately 13 hours). Standard 10000 satoshi fee transactions took an average of 9 blocks to get confirmed. Multibit has stated that they will be making modifications to the software to better cope with this type of event in the future. Tradeblock With Blockchain.info broken, we frequently referred to Tradeblock to track the backlog. Unfortunately Tradeblock was less than perfectly reliable and often failed to update when a new block had been mined. Regardless, at one point 15,000 unconfirmed transactions were outstanding. Bitpay Users reported issues with Bitpay not recognizing transactions during the test. Price Increase of $2. Contrary to some predictions, we did not short Bitcoin. Green Address While this app was not hindered directly by our test, we did send a series of 0.001 payments to a green address wallet. When attempting to craft a transaction from the wallet, an error occurs stating that it is too large. It appears that the coins that were sent to this wallet may be lost. Conclusions From a technical perspective, the test was not a success. Our goal of creating a 200mb backlog was not achieved due to miscalculations and challenges with pushing the number of transactions that we had desired. We believe that future tests may easily achieve this goal by learning from our mistakes. There are also numerous vulnerable services that could be exploited as part of a test, including Bitcoin casinos, on-chain gambling websites, wallets (Coinbase specifically pointed out that a malicious user could take advantage of their hosted wallet to contribute to the flooding), exchanges, and many others. Users could also contribute by sending small amounts to common brain wallets. We also learned that the situation could have been made worse by sending transactions with larger fees. We sent all transactions with the standard fee of 10000 satoshis per kb. If we had sent with 20000 satoshis per kb, normal transactions would have experienced larger delays. In our future stress tests, these lessons will be used to maximize the impact.
[Investment opportunity] A blockchain-based autonomous organization to fund crytopcurrency hacking, exploits and scams
Introducing the SAC (Scamming Autonomous Corporation) FAQ: Q: What is an autonomous organization? A: An decentralized organization that runs on rules determined by software code. Read this boring statist writeup on wikipedia to learn more Q: Will this organization exist on the bitcoin blockchain or an alt coin chain like etherium? A: Yes Q: How will investors decide which scams to fund? A: Blockchain. Definitely the blockchain. Q: How big will the scam and hacking profits be? A: Yuuge Q: Is it possible for the SAC to be hacked? A: Yes, but we would counter-hack a hard fork to prevent any funds from being lost (ie cheat) Q: What types of scam investments will the organization consider? A:
Exploit other autonomous organizations
Exchange exit scams
Blatantly obvious bitcoin phishing sites
Hacking non-epoxied ethernet ports
Bitcoin network 'stress tests'
Q: Will the fund consider alternative scams, perhaps quazi-legitimate scams? A: No - go away ChangeTip Q: Is this endorsed by satoshi? A: Yes - here is the signed proof IFdyaWdodCwgaXQgaXMgbm90IHRoZSBzYW1lIGFzIGlmIEkgc2lnbiBDcmFpZyBXcmlnaHQsIFNhdG9zaGkuCgo= Q: Who is really in charge of this autonomous corporation A: Infallible software code
"Amazing to see the BitcoinSV network regularly mining multi megabyte blocks full of ORGANIC USER DRIVEN TRAFFIC. No stress tests, no piñatas, just users enjoying the amazing applications available on the bitcoin network that scales. #BitcoinSV"
ɃitPico: ”The #bitcoin #LightningNetwork DoS attack/test rumors are true. We did create a network stress tool for LN. The network is operating out of 8 countries running 22 attack vectors in-parallel from ~384 endpoints.”
"I'd just like to call everyone's attention to #BitcoinSV Block no. 574555... 251 transactions, 19.2MB in size. I see no evidence of stress tests happening on the network, so I can only surmise that this is organic growth. People using Bitcoin."
Last week, MetaStreme put the Bitcoin network to a test—a stress test that is. The new high throughput wallet service from the WeatherSV team broadcasted close to 1 million transactions on the Bitcoin SV network in 30 minutes and in the process, achieved over 600 transactions per second throughput rate.. The mainnet stress test had a two-fold goal, according to its founder Paul Chiari. The controversial group behind several bitcoin 'stress tests' has confirmed next week it will push ahead with its biggest so far. A company's 'ultimate stress test' on the bitcoin network failed before it finished, but did produce some valuable information about transaction fees. Fees on Bitcoin Cash have remained low all week, despite the increase in exchange inflows and outflows. At press time, the BCH network is 1,420x cheaper than BTC when transaction fees are compared ... I f you like to follow crypto news you may have heard about the Bitcoin Cash stress test. On September 1st, 2018 the community over at /r/btc performed a test of their network by broadcasting thousands upon thousands of transactions with the intent of showing the robustness of their network, hoping to prove to the world that their Bitcoin is the real Bitcoin.
Will Bitcoin Cash Survive The September Stress Test?
https://rebrand.ly/rawealthpartners6 Get More Info Now How Investing in Bitcoin: Top Tips for New Investors can Save You Time, Stress, and Money., investing ... https://rebrand.ly/rawealthpartners Get More Info Now How Getting Started with Bitcoin's Lightning Network - CoinGecko can Save You Time, Stress, and Money.,... #criptovalute #bitcoin cosa è #btc #altcoin #binance #investire #guadagnare E' arrivata la tempesta borsistica a causa del coronavirus ? Il BTC come reagirà ... Who is stressed waiting on Bitcoin transactions? Everyone. Instead of using it as a reason for not adopting, how can we tackle issues of psychological stress... Today we look at the community project to stress test Bitcoin Cash to it's limits. Plus a market roundup and other news. Learn how blockchain technology works or how to make and save money with ...