Proof-of-Work tech under fire after 51% attacks on Electroneum and Verge

  • Posted by admin on April 5, 2018

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Two cryptocurrencies have recently become victims of the dreaded ‘51 percent attacks’ on their blockchains.  Electroneum suffered a 51 percent attack which was discovered when it was noticed that a massive amount of empty blocks were being constantly mined on the currency’s blockchain one after another, preceded by a sudden drop in hashrate. Following the Electroneum attack it was reported that Verge’s blockchain had also been compromised by a 51 percent attack. Around 250,000 XVG were stolen by the attacker, as the attacker was able to mine multiple blocks one second apart using the same (scrypt) algorithm. This feat would…

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