A University of Colorado assistant professor and a Ph.D. student from the University of Michigan have formulated a new Altcoin that has an unusual consensus mechanism. The theoretical cryptocurrency, dubbed “DDoSCoin,” pays attackers for participating in distributed denial of service (DDoS) attacks.
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Proof-Of-DDoS Rewards Miners for Attacking ‘Victim Servers’
DDoSCoin theorists Eric Wustrow and Benjamin VanderSloot have formulated a cryptocurrency that rewards attacks on TLS web servers. The white paper explains the whole process and proposes a new type of proof-of-work protocol developed by the researchers.
Miners on the coin’s network are incentivized for sending and receiving significant amounts of network traffic to attack targets.
DDoSCoin will be able to be traded just like bitcoin and other cryptocurrencies on exchanges that trade Altcoins. The white paper also states the Altcoin provides miners and botnet owners an opportunity to reap revenues for helping with a decentralized DDoS attack.
The white paper explains:
The malicious “proof-of-DDoS” operates by having miners create a large number of TLS connections to a target web server, and using the server’s signed responses as a proof of connection. In modern versions of TLS, the server signs a client-provided
Read more ... source: TheBitcoinNews
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