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WabinabExploring Life On Mars
“Three, Two, One, Expunge.” The lock releases, the lander detached from the spacecraft, heading toward Mars. It all started, when a mad scientist really think that a lighthouse is a great idea for planetary exploration. A floating fortress measuring 300 meters tall, with several arms stretching up to 45 meters, weighing barely 815 kg, it’s a beast of planetary exploration. It had been designed for lightweight and robustness, to last for a thousand years before breaking down. The more high-tec...
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WabinabExploring Life On Mars
“Three, Two, One, Expunge.” The lock releases, the lander detached from the spacecraft, heading toward Mars. It all started, when a mad scientist really think that a lighthouse is a great idea for planetary exploration. A floating fortress measuring 300 meters tall, with several arms stretching up to 45 meters, weighing barely 815 kg, it’s a beast of planetary exploration. It had been designed for lightweight and robustness, to last for a thousand years before breaking down. The more high-tec...
WabinabBooks Don't Tell You Everything
Say, non-fictional books. Most popular being the self-help books, but there are others that contains transferrable information; others are very science-y, requiring deeper education to understand. Yet, if any of which, books don't tell you everything, and they sometimes clash with each other. It's a pain, as the devoted reader tries to take and follow whatever useful for his/her life from reading the book. Throughout the reading, information stays fresh within his/her brain; and it ...
WabinabMoney and Crypto Both Fictitious. Why Not Crypto?
Yuval Noah Harari, in Sapiens, introduced that Gods, Mythology, Limited Liability Companies (like Boeing, Adidas, Tesla), and money (the dollar, euro, etc.) were fictitious entities that we made them up, and collectively believing in its value. Where we lose trust, they lose their value. If the gave and giving money value, those hard currency (gold, silver, and other metals), paper currency, and fiat; and crypto is also a virtual currency, why do we trust the former more than the latter? How ...
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We have heard about the 51% attacks on validator nodes. It's when more than or equal to 50% of the validator nodes are controlled by hackers, whom could then control transactions, including reversing a transaction. But 51% attacks doesn't occur just for nodes! It could also happens on DAOs.
Consider this situation: a member is a BCH lover (NEAR lover); and he/she brings in members of their family to join the community. So we have active members as families here. Each family members, due to their activity, are allowed to join in a DAO and gain voting power.
Now, imagine the DAO has 13 council/community members with voting power; and out of the 13, 7 of them comes from the same family. If the family members sit down and make a decision without involving the other members, they could dominate DAO votes. It doesn't matter if all the others disagree. What matters is they discussed it within the family (especially if exclusive of community or against community expectations), and they decide something. This is the 51% attacks on DAO. The DAO is now a family-owned DAO; not a community-owned DAO.
It's not just limited to family members. Example, if students from the same class, lead by the teacher, join a same DAO. Assume that the DAO is owned by global community; but because more than 51% of voting members are from that classroom, if they make a decision within the classroom without involving the other voting members, they could perform a 51% attacks on the voting decisions. The DAO is now a classroom-owned DAO; not a community-owned DAO.
If groups decide to join DAO as a group, they should only have one voting power. Whether it's a yes or a no, they could open up a sub-DAO within the group to decide before the final vote is passed as the DAO vote.
Though, this doesn't totally mitigate the problem. Wallets are incognito; and we could never know whether the people behind the wallets know each other or not, can influence each other or not to bend decisions in their will. It’s not like we could track their IP addresses without interfering with their privacy.
Even though DAO are council-based, the council might never seen each other face to face, and doesn't know about each other except they're an active member. This is unlike political council members or school council members where you see each other in real life and know more about them personally; hence decide whether they could or could not perform a 51% attacks. With so little knowledge of each other, it's important to be careful who you add to the council members, and whom have voting power.
(This article is first published on my read.cash)
We have heard about the 51% attacks on validator nodes. It's when more than or equal to 50% of the validator nodes are controlled by hackers, whom could then control transactions, including reversing a transaction. But 51% attacks doesn't occur just for nodes! It could also happens on DAOs.
Consider this situation: a member is a BCH lover (NEAR lover); and he/she brings in members of their family to join the community. So we have active members as families here. Each family members, due to their activity, are allowed to join in a DAO and gain voting power.
Now, imagine the DAO has 13 council/community members with voting power; and out of the 13, 7 of them comes from the same family. If the family members sit down and make a decision without involving the other members, they could dominate DAO votes. It doesn't matter if all the others disagree. What matters is they discussed it within the family (especially if exclusive of community or against community expectations), and they decide something. This is the 51% attacks on DAO. The DAO is now a family-owned DAO; not a community-owned DAO.
It's not just limited to family members. Example, if students from the same class, lead by the teacher, join a same DAO. Assume that the DAO is owned by global community; but because more than 51% of voting members are from that classroom, if they make a decision within the classroom without involving the other voting members, they could perform a 51% attacks on the voting decisions. The DAO is now a classroom-owned DAO; not a community-owned DAO.
If groups decide to join DAO as a group, they should only have one voting power. Whether it's a yes or a no, they could open up a sub-DAO within the group to decide before the final vote is passed as the DAO vote.
Though, this doesn't totally mitigate the problem. Wallets are incognito; and we could never know whether the people behind the wallets know each other or not, can influence each other or not to bend decisions in their will. It’s not like we could track their IP addresses without interfering with their privacy.
Even though DAO are council-based, the council might never seen each other face to face, and doesn't know about each other except they're an active member. This is unlike political council members or school council members where you see each other in real life and know more about them personally; hence decide whether they could or could not perform a 51% attacks. With so little knowledge of each other, it's important to be careful who you add to the council members, and whom have voting power.
(This article is first published on my read.cash)
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