Vertcoin became another victim of 51% attack
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According to a blog post by the developers' company, there is a close relation between implementing a fork to reduce the loss. This time this Vertcoin, currently 187th by market capitalization, has faced a peer-to-peer cryptocurrency in four separate 51% attacks.
These cryptoverse saw another example of a so-called 51% double spending attack and this could not be the end, resulting in a malicious actor estimated at US $ 100,000.
Its last one began on November 29 and was considered at the time of the report on 2 December. These incidents began for the first time in October, and were running for the first time from 12th to 18th October.
## Vertcoin Price Chart:
These communities have contacted the exchanges with a request to increase deposit confirmation and developers are working on two bespoke algorithms. He will advise everyone to do the same work.
He wrote one of Vertcoin developers, in a middle post addressing the issue of adding their individual members of the post. He is not aware of the victim or the culprit, but many members of the Vertcoin community and developers are monitoring the network.
They aim to become major mining algorithms for the GPU in an ambitious future. They will not compromise decentralization by implementing centralized control and they will not give up on fighting ASICS. The official response to these teams eventually ends.
He wants to say that Vertcoin is here to stay. At the beginning of this year there were 51% attacks in Bitcoin Gold, Verge and Monacoin. Expect to see more, such an hour's strike at Vertcoin cost is $ 181. It is a website according to Crypto51.app, which calculates the cost of 51% of the attack,
According to them, the exchange makes an ideal goal for this kind of attack. In this type of attack, Mark Nesbit, Coinbase, the Security Engineer wrote in the middle post. This is just another incident that shows the threat artists who are sufficiently refined to execute and execute.
This transfer’s new property from the platform, then this Nesbitt reversed the original deposit. An attacker can make a reverse deposit as soon as possible, trade for any other asset that is because the exchanges are allowed to do business in different assets and then withdrawn.
There is no reason for the attackers to stop this behavior. They have concluded that unless the exchange is willing to provide property to customers in response to a convertible currency deposit.
The security attacker said that he hopes to see more attacks than these attacks.
## How it works
It is called selfish mining. When other miners now get a "selfish" series, their series becomes valid. It is a malicious miner who can do enough computing power in private without telling anyone else, thus leaving any transaction in those blocks and starting to work on new ones.
## 51% attack cost
They will give up "honest" who are working, which is the number of new blocks to replace. Which is the number of blocks to be replaced and it is "length". It is called chain reorganization or "reef" all reorgs contain "depth".
This is called Double Expense Attack. Even though money has already been done and in the new, long series, with the same transaction, it means that the same money is being spent again. These excluded series now include transactions that are no longer valid.
In the case of Vertcoin, the total value of this double expenditure was more than 100,000 USD. The total number of reorganization spread in these four incidents was 22, and 15 of them included double expenditure. Its reorganization became deeper with the depth of 307 blocks and the length of the 310 block.
0.000 SRY