VeriBlock Core R&D
All altchains have one common problem – how to achieve security. In a blockchain or another distributed ledger network decisions are usually made by consensus. Any network can be attacked from the outside compromising its consensus and overwriting the data within. However, it is much more difficult and expensive to attack a large and very distributed network with thousands of nodes than a small blockchain that has yet to earn popularity and adoption.
Altchains get into a “vicious circle” – users are not eager to trust them due to security concerns, and at the same time, security can be achieved after reaching a large number of users. No matter which consensus algorithms they use, attackers with enough computing power can still compromise them.
We are currently working on a solution to break this circle and increase altchain security.
The VeriBlock solution
Today, Bitcoin is the most secure and trusted blockchain on the market. Bitcoin is older and larger than most of the other blockchains and its size can guarantee the security of data within the network. It is considered the “golden standard” of blockchain security as far as distributed ledger networks are concerned.
Can an altchain reach Bitcoin’s size? – Hardly.
Can it leverage Bitcoin’s existing security to verify its blocks? – Yes.
VeriBlock developed its own “Proof-of-Proof” consensus algorithm that is used in its own blockchain. Simply put, its blocks are sent to Bitcoin for validation. The block that was approved by the Bitcoin consensus algorithm earlier is selected as the true one.
This way, the VeriBlock blockchain raises its security effectively preventing 51% attacks and double spending.
The Adoriasoft implementation
Our engineers went one step further and developed a solution allowing to use the VeriBlock innovation to increase security of other altchains. In our implementation, VeriBlock stands between an altchain and Bitcoin and verifies blocks using its Proof-of-Proof algorithm.
This way, your altchain is using Bitcoin’s consensus algorithms to validate your blocks. The security can improve significantly as in this case the outside attack should be directed at Bitcoin that is, as we know, very hard and expensive to breach.
Adoriasoft researched the VeriBlock experience and found a way to reuse its common components for multiple altchains. We discovered how to adapt VeriBlock’s security solution to other blockchains with VeriBlock passing their blocks to Bitcoin for validation.
We as the core development team created a library of reusable components that reduces the time required to integrate VeriBlock’s solution into an altchain. Our team includes developers working with different tools and programming languages, and we can build the complete solution starting from the SPV node and ending with the altchain-specific components.
In this project, Adoriasoft team used our extensive cryptography expertise and knowledge of multiple tools including a number of programming languages:
Why do you need it?
You need the VeriBlock security solution for the same reason you need any other security tool – to protect your data. With your blocks verified by Bitcoin via VeriBlock, you are much better shielded from a 51% attack, as to attack your altchain means to attack Bitcoin itself.
This technology may be very beneficial for small altchains that are otherwise vulnerable to attacks. With an extra layer of security – and an extremely reliable one, too – your business will earn higher trust with your partners and users.