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Change to Nano Algorithm explained (transfer prioritization)

As many probably know, nano currently has issues with a spam attack taking advantage of their near instantaneous transfer logic.

The difficult task is to keep the network safe and functioning while also allowing almost free and fast transfers.

There is now a pull request taking a first step towards mitigating the damage. In short, it is going to take into consideration when an account had their last nano transfer. People who used nano before vs someone who has never used it will get prioritization multiplied by balance order. That’s to combat the spammer that has been creating new accounts and spamming the nano network with tiny amounts effectively almost bringing it down.

The way I understand it is, you get prioritization based on balance and last usage. The current attack vector is creating new accounts with tiny amounts, and that would be now mitigated.

Here’s the link the the pull request:

https://github.com/nanocurrency/nano-node/pull/3190

Here’s the full explanation in the pull request:

“This adds a class called prioritization which tracks accounts to be confirmed in a priority order determined by time_since_use * balance order where the time since use is per account.

The priority order is approximated by segmenting each account into a series of buckets determined by the number of leading 0 bits in the balance. Within each bucket, transactions are sorted by last-used timestamp of account where the numerically lowest last-used timestamp represents the account with the oldest modification date and thus, the highest priority.”



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