Bitcoin Improvement Proposal 3 (BIP): Utilization of a Fraction of Bitcoin’s Computing Power for Ransomware Decryption Assistance

Please note, this was written with the help of ChatGPT:

Photo by Michael Geiger on Unsplash

Title: Utilization of a Fraction of Bitcoin’s Computing Power for Ransomware Decryption Assistance

Author: BBCD Satoshi

Status: Draft

Type: Informational BIP

Created: 21 June 2024

Abstract: This proposal suggests the allocation of a small percentage (ranging from 0.01% to 1%) of Bitcoin’s total computing power to assist in efforts to decrypt or mitigate ransomware attacks. This initiative aims to leverage the vast computational resources of the Bitcoin network to support cybersecurity efforts, enhancing the overall security landscape.

Motivation: Ransomware attacks pose a significant threat to individuals, businesses, and public institutions, often leading to substantial financial and data losses. The Bitcoin network’s immense computational power can be partially redirected to assist in decryption efforts, providing a valuable tool in combating ransomware and enhancing public trust in the cryptocurrency ecosystem.

Specification:

Allocation: A designated percentage (between 0.01% and 1%) of the total hash rate of the Bitcoin network will be utilized for decryption efforts.

Mechanism:

• A system will be developed to temporarily divert a portion of mining power to work on decryption tasks related to active ransomware attacks.
• Participation will be voluntary, with miners opting in to contribute their computational resources to the decryption pool.

Governance:

• A decentralized committee or organization will be established to oversee the allocation and ensure the fair and transparent use of computing power.
• The community will be consulted to determine the specific criteria and processes for identifying and responding to ransomware threats.

Impact on Mining: The proposal will ensure that the diversion of computing power does not significantly impact the overall security and operation of the Bitcoin network.

Rationale: By contributing a fraction of its computing power, the Bitcoin network can play a proactive role in addressing a critical cybersecurity challenge. This initiative can improve Bitcoin’s public image, demonstrating its potential to provide societal benefits beyond financial transactions.

Backwards Compatibility: This proposal does not affect the Bitcoin protocol itself and is compatible with existing mining operations. Participation is optional, ensuring no adverse impact on miners who choose not to participate.

Implementation:

• Development: Create the necessary software and infrastructure to facilitate the redirection of computing power.
• Testing: Conduct extensive testing to ensure the system’s security, efficiency, and minimal impact on regular mining activities.
• Deployment: Roll out the system in phases, starting with a pilot program involving volunteer miners.

Bitcoin Improvement Proposal 2 (BIP): Allocation of Bitcoin’s Computing Power for Health and Medical Research

Please note, this was written with the help of ChatGPT:

Photo by Fusion Medical Animation on Unsplash

Title: Allocation of Bitcoin’s Computing Power for Health and Medical Research

Author: BBCD Satoshi

Status: Draft

Type: Informational BIP

Created: 21 June 2024

Abstract: This proposal suggests donating a small percentage (ranging from 0.01% to 1%) of Bitcoin’s total computing power each month to assist in solving pressing health and medical challenges. The initiative aims to leverage the Bitcoin network’s computational resources to contribute to research efforts such as finding cures for diseases, developing new vaccines, and addressing urgent medical needs during pandemics.

Motivation: Health and medical research often require significant computational power for tasks like simulating biological processes, analyzing large datasets, and developing new treatments. The Bitcoin network, with its extensive computational capabilities, can provide valuable support to these research efforts. By allocating a portion of its hash rate, the Bitcoin community can contribute to global health advancements and demonstrate its commitment to societal well-being.

Specification:

Allocation: A designated percentage (between 0.01% and 1%) of the total hash rate of the Bitcoin network will be donated to medical research initiatives.

Mechanism:

• A system will be developed to temporarily redirect a portion of mining power to support computational tasks for health and medical research.
• Participation will be voluntary, with miners opting in to contribute their computational resources to the research pool.

Governance:

• A decentralized committee or organization will be established to oversee the allocation and ensure the fair and transparent use of computing power.
• The community will be consulted to determine the specific criteria and processes for selecting research projects and responding to medical emergencies.

Impact on Mining: The proposal will ensure that the diversion of computing power does not significantly impact the overall security and operation of the Bitcoin network.

Rationale: By donating a fraction of its computing power, the Bitcoin network can play a crucial role in advancing health and medical research. This initiative can improve Bitcoin’s public image, highlighting its potential to contribute positively to society and address critical global challenges.

Backwards Compatibility: This proposal does not affect the Bitcoin protocol itself and is compatible with existing mining operations. Participation is optional, ensuring no adverse impact on miners who choose not to participate.

Implementation:

• Development: Create the necessary software and infrastructure to facilitate the redirection of computing power.
• Testing: Conduct extensive testing to ensure the system’s security, efficiency, and minimal impact on regular mining activities.
• Deployment: Roll out the system in phases, starting with a pilot program involving volunteer miners.

Bitcoin Improvement Proposal 1 (BIP): Allocation of Bitcoin’s Computing Power for Ransomware

Please note, this was written with the help of ChatGPT:

Photo by Fahim Reza on Unsplash

Title: Allocation of Bitcoin’s Computing Power for Ransomware 

Decryption Assistance

Author: BBCD Satoshi

Status: Draft

Type: Informational BIP

Created: 21 June 2024

Abstract: This proposal suggests allocating a small percentage (ranging from 0.01% to 1%) of Bitcoin’s total computing power to assist in decrypting ransomware attacks, particularly those where the ransom is demanded in Bitcoin. This initiative aims to leverage the Bitcoin network’s computational resources to combat ransomware, thereby improving the overall image of Bitcoin.

Motivation: Ransomware attacks represent a significant threat to individuals, businesses, and public institutions, often resulting in severe financial and data losses. Many of these attacks demand payment in Bitcoin, which can negatively affect the cryptocurrency’s reputation. By dedicating a portion of the Bitcoin network’s computing power to decryption efforts, the community can help mitigate these attacks and demonstrate Bitcoin’s potential to support cybersecurity initiatives.

Specification:

• Allocation: A designated percentage (between 0.01% and 1%) of the total hash rate of the Bitcoin network will be used for ransomware decryption efforts.

Mechanism:

• Develop a system to temporarily redirect a portion of mining power to work on decryption tasks associated with active ransomware attacks.
• Participation will be voluntary, allowing miners to opt-in and contribute their computational resources to the decryption pool.

Governance:

• Establish a decentralized committee or organization to oversee the allocation of resources and ensure fair and transparent use of computing power.
• Consult the community to define criteria and processes for identifying and responding to ransomware threats.

Impact on Mining:

• Ensure that the diversion of computing power does not significantly affect the overall security and operation of the Bitcoin network.

Rationale: By contributing a fraction of its computing power to ransomware decryption efforts, the Bitcoin network can actively participate in addressing a critical cybersecurity challenge. This initiative can enhance Bitcoin’s public image by showcasing its ability to provide societal benefits beyond financial transactions.

Backwards Compatibility: This proposal does not alter the Bitcoin protocol and is compatible with existing mining operations. Participation is optional, ensuring no adverse impact on miners who choose not to participate.

Implementation:

• Development: Create the necessary software and infrastructure to facilitate the redirection of computing power for decryption tasks.
• Testing: Conduct thorough testing to ensure the system’s security, efficiency, and minimal impact on regular mining activities.
• Deployment: Implement the system in phases, starting with a pilot program involving volunteer miners.

https://bbcdsatoshi.medium.com/bip-allocation-of-bitcoins-computing-power-for-ransomware-decryption-assistance-291b65df077b

A Major Bug In Bitcoin Software Could Have Crashed the Currency

'For less than $80,000, you could have brought down the entire network.'

Bitcoin is often said to be the gold standard for cryptocurrencies, but even the OG blockchain-based money has potentially disastrous flaws lurking in the software that supports it.

On Tuesday, the developers of Bitcoin Core—the software that effectively powers the Bitcoin blockchain—released a new version that patched a vulnerability that allowed a malicious user to crash the network, making everyone’s digital coins effectively useless. The bug has been variously described as “very scary,” “major,” and one of the “top three or four” most serious bugs ever discovered in Bitcoin.
“For less than $80,000, you could have brought down the entire network,” Emin Gün Sirer, an associate professor of computer science at Cornell University told me over the phone. “That is less money than what a lot of entities would pay for a 0-day attack on many systems. There are many motivated people like this, and they could have brought the network down.”

Notably, the bug was not in the Bitcoin protocol itself but in its most popular software implementation. Some cryptocurrencies built using Bitcoin Core’s code were also affected—for example, Litecoin patched the same vulnerability on Tuesday.

Documentation describes the bug as a “denial-of-service vulnerability” that was introduced into Bitcoin Core in an update last year. The vulnerability essentially allowed miners—the people who run computers 24/7 to guess a number that adds a block of Bitcoin transactions to the blockchain for a reward—to create a kind of poisoned block by including a transaction that attempts to spend the same coins twice. This poisoned block could then be sent around the Bitcoin network, crashing the software of any user that receives it.

Bitcoin is a peer-to-peer network that works thanks to a network of “nodes” all making sure that transactions conform to the blockchain’s rules (for example, that you can’t spend the same coins twice). Roughly 95 percent of users running Bitcoin nodes use Core, and the now-fixed bug meant that any Core node receiving the poisoned block would have been instantly killed instead of simply rejecting it for being invalid.

This could, in a worst-case scenario, crash the entire network or fracture it so that clusters of nodes are split off from each other. According to Sirer, there would have likely been a flurry of activity by the community to bring the system back online after such an attack and it would not likely have been catastrophic but definitely disruptive.

By exploiting this vulnerability, the malicious miner would lose out on the reward for creating the poisoned block—12.5 bitcoins, or just under $80,000 USD at the current value of Bitcoin—but presumably attacking Bitcoin would be worth it for them.

“The fact that lots of people are using something doesn’t mean they’re critically looking at its code, or that they’re not blind to fundamental mistakes” Sirer said. “The one thing that does help is to have multiple versions of the same software.”

“Another lesson from this episode is that monocultures are very dangerous.”

https://motherboard.vice.com/en_us/article/qvakp3/a-major-bug-in-bitcoin-software-could-have-crashed-the-currency