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An attacker succeeded in bringing the Tron network to a standstill, and the network did not produce blocks for over two hours. Founder and CEO Justin Sun assured that there was no risk to capital or data.
The Tron Blockchain had an unpleasant incident today. One attacker succeeded in ensuring that no more blocks were created for a good two hours, and the entire network and TRX were paralyzed.
The attacker succeeded in doing this because he was able to exploit a smart contract during an upgrade, which ultimately led to incorrect or malicious transactions. The so-called “Super Representatives” serve the Tron network as a controlling body. They also correctly recognized the malicious transactions as such, but then stopped the entire network as a result.
According to Justin Sun, the network partially started operating two hours later, and after a total of three hours, regular operations could be resumed without any compromises. This is due to a quick reaction from the community and a quick update of the nodes, as Sun pointed out.
Proof of work is safer
Tron relies on its own modification of Proof of Stake in that the network selects so-called “Super Representatives”, who in turn have an important control function. With the “Delegated Proof of Stake” you are not breaking new ground after all this time, but it shows that the skepticism about the alternative to Proof of Work is not unfounded.
The consensus mechanism is without question more careful when it comes to dealing with resources, but it still has to struggle with the fact that a network appears to be more vulnerable to attack. After all, all Proof of Stake concepts are based on the assumption that the shareholders – i.e. the owners of the crypto currency – have no interest in harming their invested capital.
The incident makes it clear once again that the Bitcoin blockchain, for example, is secured in a very energy-intensive manner, but ultimately experiences a level of security that other cryptocurrencies at least cannot yet achieve. In addition to Tron, a number of other Altcoins rely on modifications of Proof of Stake and Ethereum also wants to make the switch soon.