Cryptocurrencies

If You Can’t Beat 51% Attackers Who Lease Our Hash Power, Join Them

‣Reddit user says a single wallet on NiceHash controls 51%+ of the hashrate of Dash
‣NiceHash responds: Lease more hash power from us to shore up against a 51% attack
‣You could also shore up with used ASIC miners for a bargain discount these days
‣NiceHash could make it impossible for hashrate buyers to coordinate an attack
‣Or, you could be the next one to join the bank run on your small alt coin and hodl btc

Earlier in January on reddit.com/r/Cryptocurrency, a user by the name of /u/Flenst pointed out that Slovenian hash power broker NiceHash is powering over 70% of the hashrate for DASH:

“Let me proof this first. I stumbled over it when researching the ETC 51% attack and the discussions about other PoW coins and its ‘nicehash-ability’. Nicehash currently holds >70% of DASHs total hashrate, see: https://www.nicehash.com/algorithm/x11 (1390TH/s nicehash vs. 1790TH/s total). This is the first problem, and it is uncommon. Usually nicehash holds around 10 – 20% of PoW coins nethash and it is only dangerous for smaller forks of the PoW coin.”

(At the time of this article’s publication that figure is down to a quarter of DASH’s hashrate.)

Read the full story on CCN.com.

Source

neallesh@yahoo.co.uk

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