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Tag: 51 Percent Attack
Bitmain’s Hashrate Steadily Reaching 51 Percent of Bitcoin Network, Already at 42 Percent
Category: Altcoins, Bitcoin, Blockchain, Business, Mining, News
Bitmain’s concerning hashrate dominance on the Bitcoin’s network reached a new high on June 24, 2018, after reports suggested it nearing the fatal 51 percent figure. Rising Concerns As per a report on Trustnodes, the Chinese mining equipment manufacturer controls over 42 percent of the network hashrate if data from June 2018 is considered. Bitmain-owned BTC.com and Antpool released statistics…
Bitcoin Gold to Implement New PoW Algorithm Preventing Future 51 Percent Attacks
Category: Altcoins, Mining, News, Tech
Bitcoin Gold (BTG) will switch to a new Proof-of-Work (PoW) algorithm after the recent 51 percent and double spending attack on the protocol. ASIC Miners to Face Unprofitable Times In an official announcement on June 4, 2018, the BTG organization laid out changes to their blockchain expected in the upcoming network upgrade to be accomplished via a “Hard Fork.” The…
Research: Smaller Cryptocurrencies like Bitcoin Private are Trivial to 51 Percent Attack
Category: Altcoins, Bitcoin, Commentary, Ethereum, News, Tech
While blockchain technology is famous for its secure, immutable framework, the thousands of overlying cryptocurrencies do not display equal characteristics. A recently conducted research goes on to show the depths of this concerns and concludes that a billion-dollar cryptocurrency network could be brought down with a few million dollars, and a little technical work. Algorithms Tremendously Exposed As per a…
