Date: 2 months ago   Category: Economy

NiceHash to miners of small cryptocurrencies: if you cannot prevent the attack of 51%, rent ours a hash power

The NiceHash company responded to messages of the user of Reddit who reported that one purse on NiceHash controls more than 51% of hashrate of Dash: Give us more hash power that we could be protected from the attack of 51%. NiceHash can make impossible for buyers of hashrate to coordinate the attack. You can become the following who will join the platform to mine altcoins or to hodlit VTS. Earlier in January on Reddit the user by the name of Flenst noted that the Slovenian platform for rent of mining capacities of NiceHash provides more than 70% of hashrate for mining of Dash: Allow me to prove it to the first. I came across it when I investigated the attack of 51% for ETC and also investigated other coins of PoW and their "special abilities". Nicehash contains 70% of total number of hashrate of Dash, here now: (1390 TH/s nicehash against 1790TH/s all). It is the first problem and this unusual phenomenon. Usually Nicehash has about 10 - 20% of hashrate of PoW-coins and it is dangerous only to small a fork of PoW-coins. (At the time of the publication of this article this figure decreased to a quarter of hashrate of Dash.)

of Dash is an altcoin which general capitalization makes $690 million. It was started in January, 2014 as a fork of bitcoin and intended for fast payments which cannot be monitored.

of Many struck the fact that the coin with such capitalization can be so vulnerable to the attack of 51%.

Seemed that if NiceHash wanted, it could take a blockchain of Dash and carry out the attack of double expenses on the large sums of money. The question remains open for what it is the companies which already gain good income from high commission fees.

is possible NiceHash of it will not make, but someone can use the platform and rent enough hash power with miners from around the world to attack small cryptocurrencies and to carry out the attacks of double expenses, spending a lot of money?

As reports Flenst, three big, the unknown addresses, are under control of one user and control 50% of hashrate of Dash: This concrete transaction has three of four main addresses as entrances, that is one owner controls all three addresses. These three addresses possess more than 53% of hashrate. You can also notice that it began 6 months ago, approximately in September of last year, and I think that the fourth unknown pool also belongs to this object, but it is divided in a blockchain. It began to accumulate a hash power at the same time. To draw more attention to potential vulnerabilities in blockchains of an algorithm Proof of Work to the attacks of 51% with use leased a hash power, on the website the website with the list of the main PoW-cryptocurrencies and estimation of cost of rent of enough a hash power from NiceHash for the decision more than 50% a blockchain hash problems within one hour was created.

It was already made earlier. In October as the proof of the concept the ethical hacker of GeoCold



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