Menu

Search

  |   Digital Currency

Menu

  |   Digital Currency

Search

New cryptocurrency ‘DDoSCoin’ incentivizes users for participating in DDoS attacks

The number of Distributed Denial of Service (DDoS) attacks, which tries to make an online service unavailable by flooding it with traffic from multiple sources, has been rising at an alarming rate.

In a new research paper, Eric Wustrow, University of Colorado Boulder, and Benjamin VanderSloot, University of Michigan, have put forward the concept of DDoSCoin – a cryptocurrency with a ‘malicious’ proof-of-work (“Proof-of-DDoS”).

“DDoSCoin allows miners to prove that they have contributed to a distributed denial of service attack against specific target servers”, the paper says.

Presented at the Usenix 2016 security conference, the researchers explain the DDoSCoin system which enables miners to select the victim servers by consensus using a proof-of-stake protocol. The authors note that although the malicious proof-of-DDoS only works against websites that support TLS 1.2 (Transport Layer Security), as of April 2016, over 56% of the Alexa top million websites support this version of TLS.

By design, miners are incentivized to send and receive large amounts of network traffic to and from the target in order to produce a valid proof-of-work. These proofs can be inexpensively verified by others, and the original miner can collect a reward. This reward can be sold for other currencies, including Bitcoin or even traditional currencies, allowing botnet owners and other attacks to directly collect revenue for their assistance in a decentralized DDoS attack.

Wustrow told Motherboard that something like DDoSCoin could encourage hacktivists to use the system to incentivize others to perform attacks on their behalf.

"However, it's probably still easier and more effective to just pay a 'reputable' botnet to do this for you,” he said. “On the other hand, something similar to DDoSCoin might lower the barrier to collecting rewards for DoS attacks, ultimately driving down the cost for hacktivist consumers.”

The researchers admit that the paper introduces an idea that could be used to incentivize malicious behavior. To that end, they say that in demonstrating the proof-of-concept and evaluating proof-of-DDoS code, they have only “attacked” websites they have ownership and authority over. They emphasize that they are not publishing a working altcoin that uses this proof-of-DDoS, but rather a conceptual description of one.

 

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

June 26 21:00 UTC Released

KRConsumer Sentiment Ind*

Actual

111.1 %

Forecast

Previous

108.0 %

June 26 13:00 UTC Released

MXIGAE Econ Activity YY

Actual

-0.7 %

Forecast

-0.85 %

Previous

4.40 %

June 27 08:00 UTC 464464m

ITMfg Business Confidence

Actual

Forecast

106.7 %

Previous

106.9 %

June 27 08:00 UTC 464464m

ITConsumer Confidence

Actual

Forecast

106.2 %

Previous

105.4 %

June 27 10:00 UTC 584584m

GBCBI Distributive Trades

Actual

Forecast

2 %

Previous

2 %

June 27 12:55 UTC 759759m

USRedbook MM

Actual

Forecast

Previous

0.7 %

June 27 12:55 UTC 759759m

USRedbook YY

Actual

Forecast

Previous

2.8 %

June 27 12:55 UTC 759759m

USRedbook MM

Actual

Forecast

Previous

0.7 %

June 27 12:55 UTC 759759m

USRedbook YY

Actual

Forecast

Previous

2.8 %

June 27 13:00 UTC 764764m

USTrade Balance SA*

Actual

Forecast

0.9 bln $

Previous

1.0 bln $

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.