In this article I will try to display to everyone reading why white hat hackers are a important part of the crypto ecosystem. I will be providing a summary experience one can get by reading this reddit I found related to the currency DGB (or Digibyte). If your interesting in reading the full reddit thread it can be found here.
In the thread a white hat hacker is looking closely at the digibyte network hash rate, doing mathematical calculations on just how much fiat it would cost to 51%attack the network (you know, normal fun research stuff) when he realizes something off with the hash rate as it currently sits.
(for those that are not aware) Digibyte runs multiple algorithms in a PoW form supposedly for added security, and to make it more accessible to a wider array of miners, anyway, I digress from the reddit summary, and that’s all you need to know about Digibyte’s background and function for me to continue...
anyway, a white hat hacker notices that 2 of the 5 algorithms are being exploited by presumably one entity, mining a much larger number of blocks than any other miner (or pool) on the network, he then concluded that with that sole entity earning what they were daily just from easily controlling those two algorithmic functions (presumably due to either new unknown hardware or a more sophisticated and new mining software) the entity could easily buy the other two algorithms worth of hash rate needed to 51% the entire network from NiceHash (a well known cloud hash provider) and that would obviously be bad... at least if your a fan of Digibyte.
If that summary seemed interesting to you at all, like I said, I invite you to read the reddit, it’s pretty cool, there is some drama cause the white hat actually gets his post taken down in the digibyte reddit so he cross posted for attention and then mods from Digibyte moved it back for discussion (lul). Bottom line, and ultimate take away, at least in my experience with the read was that for every black hat out there trying to take coins and bring down networks, there are ones wearing white ready to expose black hats or methods to which black hats can exploit, before they have a chance to do REAL harm.
... also...
price of DGB might be falling soon, cause one guy HAS been running a pretty good grift on the network for a while already it seems according to the thread.
Anyway, thats all I got for this article. If you liked it, fallow or tip, or both(?), and as always hodl safe out there!
