51 Percent Attacks Appear to Have Hit Verge and Electroneum
Posted: Wed Apr 04, 2018 6:43 am
It seems that trouble is brewing for Electroneum and Verge–Reports emerged on Reddit last night that both networks may have recently been under 51 percent attacks. This kind of attack happens when a malicious group of miners attempts to compromise the network by controlling more than 50 percent of a network’s mining hashrate (computing power).
This allows the malicious actors to prevent new transactions from being confirmed, which effectively halts payments on the network. This kind of attack also may enable malicious actors to reverse transactions that were in the confirmation process when they gained control of the network, ... (read more)