Author: David Vorick 2014-01-04 08:49:52
Published on: 2014-01-04T08:49:52+00:00
The context discusses the potential for a 51% attack on altcoins and the importance of merged mining for their security. It is suggested that attacking a significant currency would be expensive and likely traumatize the whole system, causing questions to be raised and dropping the value of bitcoin as well as all cryptocurrencies using the same work function. However, with many people having access to large amounts of GPUs, there may not be much cost to doing a 51% attack on an altcoin beyond a short-term diversion away from profitable mining. Supporting merged mining could make it less straightforward for an individual or group to carry out a 51% attack. The rational decision for a non-scam altcoin is to take advantage of merged mining to get as much security as possible.
Updated on: 2023-06-07T23:13:17.583713+00:00