lol ya especially after they switched back to ASIC mining to appease them and others.... guess it didn't work out so good.
Actually it seems to work out way better as the GPU debacle than back.
At least the coin is 51% attack secure. Actually one of the very view ones that can no longer be 51% attacked.
That alone is a huge success and only a handfull coins/projects including ETN is at least safe from nicehash 51% attacks.
As far as the 51% attack, its more in theory than a real event. In 5 1/2 years I've never known of an intentional attack on a coin that was worth anything. There was a time with BTC a fork happened unintentionally but was quickly identified and miners took action to correct. And that was in the CPU/GPU days
If anyone can identify an attack that resulted in the true takeover of a coin by an entity with malicious intentions please link it here. Id like to know, always a chance I missed it lol
You know that when someone speaks/writes about 51% attacks it includes all kind of attacks, beginning from time spoofing up to selfish mining attacks, as with all you need for a given time bigger % of the nethash.
A pure 51% take over attack is the worst case, doesn't mean that the other attacks are much better, as every successfull attack is just bad for a given project. A project being secure from whatever such attacks is a huge advantage only a view coins have and right now ETN is one of these view coins/tokesn/projects that due the huge asic hashrate can not longer be attacked.
If you need info about 2018 successfull attacks, let me know, can write you a list with at least 20 coins and multi 10M damage/stollen/hacked/spoofed/ coins.
Well since you put it like that lol... I was simple referring to a takeover. Just haven't heard or read of anything significant in my time or the coins i have mined
/stollen/hacked/spoofed/ coins.
these are a bit of a different story.
Actually it's not a bit of different story as all over it's 1 story.
Just trying to explain it absolutly simple:
Under 51% attack it is referred to take over the network, but that's misleading for several reasons. The first one is that you actually do not need 51% but less, in many cases much less and it can go as low as 10-20% to "temporary" take over a network. The 2nd is that the 51% attack is mostly referred to an absolute take over, but nobody has interest in that, therefore all these attacks result in double spending, time spoofing, selfish mining, you name it attacks resulting of the so called 51% attack. The reason is just easy money. You invest, let's say 1.000 USD per hour for nicehash traffic, mine secretly your blockchain and at some time you insert/inject it into the main blockchain with short injection of more rented hashpower making your secretly mined blockchain the valid one and orphan the real blockchain. Until the real blockchain catches up to invalide the other one, you have enough time to make whatever you want (some minutes to several hours).
Many allready don't refer anymore to a 51% attack but as a majority attack, as it fits way better, and than split it into a undergroup of the purpose, be it selfish mining, double spending, time spoofing, whatever. I just used the term 51% as it's more common.
No big deal with so much possible rentable hashpower available from nicehash and other rental service. It's easier than several years ago. Nowdays you rent the needed hashrate cheap, no need for buying hardware whatever. Hence why it should a big concern for about 95% of all POW projects that work/live on such low network that at any time a bad actor could attack them (for whatever gain/reason).
My personal opinion is that when you know the network is secure from whatever attack a dev team for sure sleeps better and can concentrate on more important things. Of course a network can be successfull secured by GPU as well, but so far there is only Ethereum with ~250.000 Th/s hashrate and a mixed GPU/BOT/CPU Monero coin with 479 MH/s hashrate. Only these are the attack-safe non asic coins.
ETN is now 1 of the 18 or 19 fully attack secured asic coins. For me personally it doesn't matter with what it's secured, enough it is secured. Obviously GPU's didn't do the job, hence asics for ETN seems to be the way better choice from a security point of view. Everyting else comes later. Security must be absolute first priortiy as everything else without security is doomed to fail soon or late.
