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- 1 Lightning network makes Bitcoin transactions faster and more scalable.
- 2 However, they have not become impervious to malicious attacks.
- 3 Routing attacks have become problematic for it.
The developers who minted the first Bitcoin were not really focused on transaction speed and capacity. In fact, its blockchain is still not prepared to handle a large number of transactions. As a result, innovators came up with innovative solutions. They created new networks that were faster, safer, and more efficient. Lightning network is one of them.
Understand Lightning Network
The lightning network is a second layer of Bitcoin which enhances the overall performance of transactions. It solves the scalability issues of this blockchain and makes it faster as well. Working on a peer-to-peer system focuses on processing micropayments. To achieve that, it executes off-chain transactions and does away with any intermediary.
Lately, a lightning network has emerged as a perfect solution for Bitcoin. It has enabled the network to be more suitable for different purposes. The usability of this mechanism has made it perfect for many other tokens too. So the adoption of lightning networks has rapidly increased in the last couple of years.
While the technology has accelerated transactions greatly, it hasn’t been able to be impervious to cyber attacks. The so-called routing attacks have been able to penetrate into this network spuriously. These malicious attacks have exposed the vulnerable side of the lightning networks. Thankfully, the experts have devised some ways to keep them at bay. To understand them better, one needs to know all about routing attacks.
Understand Routing Attacks
The lightning network uses a routing system to process its transactions. Though it happens off-chain, the malicious attackers find different ways to swindle the users. The first such method is to set extravagant costs on particular routes. When that happens, users either pay the high fee or they can find an alternate route. The cycle continues if they choose the latter.
Another deceptive trick that they use is spreading false information about the routes. They can tell the users that particular routes are faulty and they’re failing transactions. When the users fall into the trap, they look for more online routes and that’s when hackers attack. Also, this type of attack tarnishes the network’s reliability for users.
Furthermore, attackers often launch probing forays to learn more about the network. With these attempts, they come to know about users’ behavior and privacy concerns too. They may even try to divert payments to their own channels from authorized recipients.
Methods to Identify Routing Attacks on Lightning Network
Detecting routing attacks on a lightning network can be very challenging. This is because they can take many forms and may not always target the asset. Many assaults are done with a motto to render the network dysfunctional. However, there are a few things that network operators can try.
- Be more active
- Study previous attacks
- Involve more people in monitoring
- Look out for irregular activities
So far, the developers haven’t been able to find a more effective way to stop these attacks. Despite that, the existing networks have managed to adopt safer practices. With a more circumspect approach and heightened participation, these incidents can be prevented.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
