CirclesUBI / whitepaper

Circles Protocol Whitepaper
https://joincircles.net
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This project is not secure yet, because sybil attacks are not realy being prevented. #8

Closed fermmm closed 5 years ago

fermmm commented 6 years ago

There is no way to prevent sybil attacks with this system. Your circles idea is a system that just punishes new accounts, and there is no much punishment for multiple accounts from the same person.

If there are validators accepting unknown money to give the new users a chance, they can also allow sybil money if the validator is cheated, you are assuming that the validators will be invulnerable without giving any specifics about how they should work. Asking for biometrics has known vulnerabilities. Asking for citizen IDs also can be hacked with an attack or a bribe to an employee that controls the software to create the electronic IDs, creating a lot of hashes to make a cybil attack.

The only way I know to prevent a sybil attack is to make a system that forces the users to meet with random users all at the same time once a month, because nobody can be at the same time in different places, accounts gets validated. This is called POI parties. It has it's own problems, like a majority attack, more info here: https://decentralize.today/ethereum-based-proof-of-individuality-prevents-sybil-attacks-9757864bbf61

But if POI parties works and the validators use it, there should be only one validator for the entire world or all the validators should be POI parties issued at the same time. Otherwise if there are 10 validators trusted by each other and they are different, then I can make 10 trusted accounts one for each validator, and get 10 universal basic incomes.

If you are not wasting your time and this project finally works, it will grow and you will receive attacks in any shape comming from the richest capitalists with almost infinite resources, so if the validators security makes sense in that context, then this project could work, but there is no solution in the white paper.