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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.

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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 :)

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  • Where in the code i implement allow mining from one pubkey and address?
    – pbu
    Apr 6, 2018 at 4:57
  • It's not a serious suggestion.
    – Nate Eldredge
    Apr 6, 2018 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, 2018 at 11:54

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