How secure is the NEO network?
The NEO network is highly secure and is designed to protect against malicious attacks.
The NEO network utilizes a Delegated Byzantine Fault Tolerance (dBFT) consensus mechanism, which allows for fast transaction confirmation times and ensures that the network remains secure even if some nodes are compromised. Additionally, the NEO network utilizes digital certificates to ensure that all transactions are securely signed and authenticated. Furthermore, the NEO blockchain is secured by a variety of measures such as anti-quantum cryptography, distributed storage of private keys, and multi-signature authentication.
These measures help to ensure that the data stored on the blockchain is safe from malicious actors. Additionally, the NEO blockchain utilizes an optimized version of UTXO (Unspent Transaction Output) which helps to reduce the risk of double spending attacks. Overall, the NEO network is highly secure and has been designed with security in mind.
The combination of dBFT consensus mechanism, digital certificates, anti-quantum cryptography, distributed storage of private keys, multi-signature authentication and UTXO helps to ensure that all transactions on the NEO blockchain are safe from malicious actors.
