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.