The privacy-focused Zcash (ZEC) blockchain has been hit by a spam attack that fills blocks with shielded transactions with hundreds of outputs.
The zcash spam attack continues. Almost every block contains a shielded transaction with hundreds of outputs. In doing so, the spammer can successfully blow up the size of the chain by maxing each 2 MB block every 75 seconds. The cost of each spammed transaction? Less than a cent.
— xenu (@xenumonero) October 5, 2022
The Zcash spam attack continues. Almost every block contains a shielded transaction with hundreds of outputs. In doing so, the spammer can successfully blow up the size of the chain by maxing each 2 MB block. The cost of each spammed transaction? Less than a cent,” wrote a user under the alias xenu.
The spammer’s actions hinder the operation of the network’s nodes, overloading memory.
Experts struggled to determine the attack’s objective. A researcher using the pseudonym Nick bax.eth of Convex Labs named three possible motives:
- for fun;
- to profit via short positions in Zcash — the blockchain’s operation issues could lead to a drop in the cryptocurrency’s price;
- to hinder running nodes, which would facilitate network surveillance and make eclipse attacks more viable.
Possible motives:
1. For fun.
2. For profit (short ZEC, nodes go down, people criticize ZCash).
3. Make it harder for people to run nodes, which makes network-level surveillance or even eclipse attacks more viable.— Nick bax.eth (@bax1337) October 5, 2022
According to CoinGecko, in the last 24 hours Zcash quotes have fallen 1.5%. The coin is trading at around $56.4.
One user under the nickname dan suggested that the attack was masterminded by Monero’s developers, another privacy-focused cryptocurrency.
“A What is Zcash??”
It’s probably the Monero boys who are doing it. I don’t see any other losers who would waste time doing this. Zcash is Monero’s rival so they try to weaken it. It’s one of the reasons I don’t invest in Monero. I just don’t like the people in that community
— dan 🛡 (@igototokyo) October 5, 2022
The Monero community reacted to his guesses with irony:
“A What is Zcash??”.
What is Zcash?? pic.twitter.com/E2vMLu6Wk0
— The Monero Club (@themoneroclub) October 5, 2022
In June, the Zcash developers activated a major upgrade Network Upgrade 5.
In 2021, the Electric Coin Company presented a roadmap, which included moving the blockchain to the consensus algorithm Proof-of-Stake (PoS).
After Ethereum’s migration to PoS in September 2022, Vitalik Buterin expressed confidence that Zcash would follow suit.
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