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Osmosis “Scambuster Upgrade” ready to go live to combat surge in spam events

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Cosmos based Osmosis network is ready for release update v11.0.0 at block height 5432450 to combat spam/fraud. The block height is expected to be reached around 16:00 UTC on August 3, which will result in users being unable to interact with the network for a “short period of time.”

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According to an Osmosis announcement, “the update contains only two minor changes aimed at reducing online spam to protect Osmosis users.” There will be two changes

  • Osmosis LP Incentives Sensor Creation Fee
  • Suggestion for management Minimum deposit requirements

Osmosis LP Incentives Sensor Creation Fee

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On July 22, attackers attempted to stop the Comos blockchain by creating “20,000 external stimulus sensors in various pools in an attempt to overload Validator nodes.” Until the attack was successful, users were subjected to a dust attack. This is when a small amount of worthless tokens are distributed across many wallets in the hope of a future exploit. Osmosis reported that “this created a rather annoying and less than ideal user experience.”

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The update will introduce a minimum fee of 50 OSMO for creating and adding external stimulation sensors. Repeating the attack on July 22nd will be considered “too expensive” after the release of the update.

Suggestion for management Minimum deposit requirements

Fraudulent offers containing malicious links that attempt to steal a user’s seed are becoming more common on Cosmos. To prevent such offers, Osmosis is making a change to the offer submission process so that “wallets that submit a management offer will also pay a 25% deposit at the time of submission.”

The initial cost of submitting a proposal will be approximately 125 OSMO. The purpose of this change is similar to the method applied to fees for creating an incentive scale. Similar spammy offers were seen on the Terra blockchain during the crash. However, Terra introduced a permission list method that hides other suggestions behind a “show all” tab.

Osmosis’s strategy puts financial limits on submissions, but reducing spam is likely to result in better user experience.

According to Osmosis, another update will be released later in August, which “should make this an exciting month in the ecosystem!”





Credit : cryptoslate.com

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