#51 Percent Attack

What the Rise of Quantum Computing Spells for Cryptocurrencies

May 28, 2019 by Ashwath Balakrishnan at Cryptocyclopedia, Tech

The effects of quantum computing on cryptocurrencies is bound to have a huge effect on network security. With the exponential increase in computing capabilities, the efficacy of brute force attacks massively increases. Despite slow development, the risk is real and needs to be discussed - so when should you start...

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Miner with “Satoshi Nakamoto” Handle Gaining Majority on the Bitcoin Cash Blockchain

April 30, 2019 by Ashwath Balakrishnan at Altcoins, Bitcoin, Mining, News

The Bitcoin Cash (BCH) community is preparing itself for another hash war as an unknown miner with Satoshi’s name in the block’s coin base accounts for 44% of current BCH hash rate. A Reddit user posted these findings on April 29, 2019. Siren goes off for Hash War As BCH prepares itself...

Bitmain’s Hashrate Steadily Reaching 51 Percent of Bitcoin Network, Already at 42 Percent

June 25, 2018 by Shaurya Malwa at 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...

Bitcoin Gold to Implement New PoW Algorithm Preventing Future 51 Percent Attacks

June 6, 2018 by Shaurya Malwa at 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...

Research: Smaller Cryptocurrencies like Bitcoin Private are Trivial to 51 Percent Attack

May 30, 2018 by Shaurya Malwa at 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...