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RE: Crippling Bitcoin Cash ABC 51% Attack (90%).

in #abc5 years ago

Wow, another layer of the cryptocurrency blockchain onion is peeled away for me by this post. I never thought about the vulnerability, but when mining you pick your token by algorithm, and mining difficulty.Same mining power and lower difficulty means more profit.

It is a nature extension of that thought that a coin with the same algorhythm could be mined by the same machinery, but if the mining difficulty is a lot less and the competition mining power is a lot smaller, then you cam mine a lot of coins. Plus if you have sufficient mining power then a 51% attack is possible. This is amazing. I have heard of mining pool consortiums conducting 51% attacks by pooling mining power or people renting hashing power to perform 51% attacks on smaller projects. But you just opened Pandora's box by verbalizing what some who mine and understand the process of Bitcoin Cash's vulnerability.
Amazing.

I thought Flash Loans were sophisticated, but I forgot the origins of cryptocurrency mining is complicated also.

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