Altcoins Talks - Cryptocurrency Forum

Cryptocurrency Ecosystem => Bitcoin Forks => Bitcoin Forum => Bitcoin Gold => Topic started by: mlawson71 on February 02, 2020, 01:56:47 PM

Title: Bitcoin Gold hit with a 51% attack
Post by: mlawson71 on February 02, 2020, 01:56:47 PM

Last week the Bitcoin Gold (BTG) network was hit with a 51% attack and as a result lost over 70,000 USD in double spends. What happened raised questions about security as this is not the first time the Bitcoin Gold blockchain has suffered such an attack. The previous time that happened was back in May 2018, when another 51% attack resulted in the loss of over 18mln USD. According to some BTG community members there are secret Application-Specific Integrated Circuits (ASICs) mining the BTG network and there are calls for a safer algorithm.
After the attack last week the BTG developers implemented new Proof-of-Work (PoW) algorithms in an attempt to shore up the security of the blockchain.
Source (https://www.forexbrokerz.com/news/BTG-loses-USD-70000-in-double-spends-after-a-51-percent-attack)
This was not the first such attack on BTG and considering its track record it may not be the last.

Title: Re: Bitcoin Gold hit with a 51% attack
Post by: aiviaa485 on May 21, 2020, 05:19:12 AM

Quote from: mlawson71 on February 02, 2020, 01:56:47 PM

This was not the first such attack on BTG and considering its track record it may not be the last.

Well, If I see the expression of this feeling maybe it's definitely a disappointment from the fans of Bitcoin Gold.
Bitcoin Gold is an altcoins of harfork results from Bitcoin which failed the most in terms of security and has been proven so far in various problems that are often discussed in forums.

I assume maybe the next year Bitcoin Gold will get 51% more attacks and the price of Bitcoin is again not appreciated, I don't know!