0

I have experienced 51% attack after launching a new altcoin last month.

While i mined only 100 blocks using coin-cli generate 1, i noticed somebody already mined 2000 blocks within minutes attacking my network. I was running 2 nodes (without wallet) and 1 node (with wallet installed) in Ubuntu server.

  • Why would the attacker target new cryptocurrencies? Is he after coins?
  • What changes in the code i have to implement to prevent the 51% attack?

My altcoin is based on scrypt (litecoin), Block generation time is 10 minutes/hour, Coin maturity 100 blocks, with parameters almost same as bitcoin.

2

Why would the attacker target new cryptocurrencies?

Why not? He has the same reasons as you to create blocks

What changes in the code i have to implement to prevent the 51% attack?

Disable decentralization. Allow mining from one pubkey/address only :)

  • Where in the code i implement allow mining from one pubkey and address? – pbu Apr 6 '18 at 4:57
  • It's not a serious suggestion. – Nate Eldredge Apr 6 '18 at 4:59
  • It is serious. I have to say that it is ONLY choice. No other suggestions can prevent attack-51 in any crypto – amaclin Apr 6 '18 at 11:54

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.