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August 13, 2016 12:00 am
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/UgRrU3HOVRQ/ddoscoin-new-crypto-currency-rewards-users-for-participating-in-ddos-attacks
DDoSCoin: New Crypto-Currency Rewards Users For Participating In DDoS Attacks
An anonymous reader writes from a report via Softpedia: "In the most innovative, weirdest, and stupidest idea of the month, two researchers from the University of Colorado Boulder and the University of Michigan have created a crypto-currency that rewards people for participating in DDoS attacks," reports Softpedia. "Called DDoSCoin, this digital currency rewards a person (the miner) for using their computer as part of a DDoS attack. Just like Bitcoin, DDoSCoin uses cryptographic data to provide a proof-of-work. In DDoSCoin's case, this proof-of-work is extracted from the TLS connection a miner establishes with the website they're supposed to attack." This means that DDoSCoin can be used only with DDoS attacks on TLS-enabled websites. Participating in DDoS attacks gives miners DDoSCoin, which can then be converted in Bitcoin or fiat currency. Furthermore, anyone can request a DDoS attack via the PAY_TO_DDOS transaction. The research paper that proposes DDoSCoin is only a theoretical exercise, and a DDoSCoin crypto-currency does not currently exist in the real world. For now.Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/UgRrU3HOVRQ/ddoscoin-new-crypto-currency-rewards-users-for-participating-in-ddos-attacks
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