Over the past fortnight, numerous cryptocurrencies have suffered from a 51% attack. This affected Bitcoin Gold, Verge, and currently Litecoin money also. it's changing into associate degree improbably worrisome trend that can’t be countered all that simple. It remains a small amount unclear on why this attack was even potential within the 1st place. performing arts such associate degree attack needs heaps of mining hardware and therefore the want to try to to hurt.
In the case of Litecoin money (LCC), the developers confirmed the attack. the quantity of needed network confirmations augmented to a minimum of one hundred when developers contacted exchanges. All different currencies tormented by a fifty one attack took similar measures. Even so, it'd be higher if problems like these ne'er occurred within the 1st place.
Thankfully, it appears Litecoin money won't face long-run hurt. The team is functioning on protective against major hashrate spikes. Such a trial is commonly easier same than done. a tough fork of the code seems at hand thanks to network protection options. Developers haven't confirmed a tough fork nonetheless, however it's a certain risk. The new codebase is prepared to travel and can embody some key options as originally planned.
This is another example of however a production of existing cryptocurrencies isn't a guarantee of success. The developers of Litecoin money learned a valuable lesson the onerous approach. Even so, avoiding a fifty one attack from day one ought to are the priority. for a few unknown reason, lean countermeasures were in situ during this regard. The community will solely hope history won't repeat itself.
Do you suppose the developers of LCC ought to have done a lot of to shield against a 51% attack? please comments below.
In the case of Litecoin money (LCC), the developers confirmed the attack. the quantity of needed network confirmations augmented to a minimum of one hundred when developers contacted exchanges. All different currencies tormented by a fifty one attack took similar measures. Even so, it'd be higher if problems like these ne'er occurred within the 1st place.
Thankfully, it appears Litecoin money won't face long-run hurt. The team is functioning on protective against major hashrate spikes. Such a trial is commonly easier same than done. a tough fork of the code seems at hand thanks to network protection options. Developers haven't confirmed a tough fork nonetheless, however it's a certain risk. The new codebase is prepared to travel and can embody some key options as originally planned.
This is another example of however a production of existing cryptocurrencies isn't a guarantee of success. The developers of Litecoin money learned a valuable lesson the onerous approach. Even so, avoiding a fifty one attack from day one ought to are the priority. for a few unknown reason, lean countermeasures were in situ during this regard. The community will solely hope history won't repeat itself.
Do you suppose the developers of LCC ought to have done a lot of to shield against a 51% attack? please comments below.
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