What Is a “Sybil Attack” and How Does It Differ from a 51% Attack?
A Sybil attack is a security threat where a single attacker creates and controls numerous fake identities or nodes on a peer-to-peer network to gain disproportionate influence. It differs fundamentally from a 51% attack.
A 51% attack requires a majority of a scarce resource (hash power or staked tokens) to manipulate the ledger. A Sybil attack attempts to corrupt the network by overwhelming it with fake identities, often to isolate honest nodes or spread false information, and is more common in unpermissioned, non-PoW/PoS networks.
Glossar
Fake Identities
Deception ⎊ Fake Identities in decentralized governance systems pose a significant threat, allowing malicious actors to accrue voting power or influence proposals using non-genuine attestations of participation or stake.
Sybil Attack
Architecture ⎊ The Sybil attack, within cryptocurrency, options trading, and financial derivatives, exploits the inherent design vulnerabilities of distributed systems reliant on identity-based consensus.