What is a Sybil Attack in Crypto (and a Governor DAO defense for it)

One way Sybil attacks are used in cryptocurrency is creating multiple wallets to game a system, for example, to unfairly receive multiple rewards (i.e. airdrops). Until recently the only solution to this was to make it relatively expensive to do.

However, Governor DAO recently partnered with biometric company Finnovant to launch an onchain Sybil defense against this by letting users create a proof-of-existence (PoE) token which attaches to their wallet and then crypto projects could (with a single line of code) check for the token. This allows a certainty against Sybil attacks never seen before.

Could this be the future of crypto yield farming and airdrops? We shall see!

Timeline
00:00
00:01 Introduction00:32 Intro Video00:41 What is a Sybil Attack?01:42 What is the problem?
01:50 Where does the term “Sybil” come from?
02:24 Why is having multiple accounts unfair?
03:04 A multi-wallet example trying to game the system
03:34 The current “defense” is economic difficulty (not a defense, just a way to make it hard)
04:20 Take Bitcoin for example
04:55 What is a project created a Biometric solution?
05:25 How does this help?
06:17 Governor DAO is doing this!
06:43 Governor DAO has active Proof of Concept for this
06:55 Partnership with Finnovant
07:24 Proof of Concept User Guide
08:38 How to sign up for the PoC
08:55 What next?
09:11 Wrapping up

Governor DAO Website
https://governordao.org/

Proof of Concept User Guide
https://governordao.org/ProofOfConcept/GovernorDAO-PoC-UserGuide.pdf

Project Overview
https://governordao.medium.com/no-kyc-sybil-resistance-for-every-situation-babc7b115b18

Видео What is a Sybil Attack in Crypto (and a Governor DAO defense for it) канала TaeKwonKrypto