Safety engineer exchange Coinbase mark Nesbitt (Mark Nesbitt) said in a blog that the network Vertcoin was subjected to repeated attacks of 51%.
Four series of incidents (from 12 October) there have been 22 deep reorganization of the network, 15 of which have included double the expenditure of the VTC. The most ambitious reorganization had grubina 307 blocks and a length of 310. According to Nesbitt, this demonstrates the ineffectiveness of increasing the number of confirmations as a method of countering such attacks on the network.
According to experts, the damage from the attacks could reach up to $100 thousand. We conducted an investigation, and the data will be updated.
The mining algorithm, Vertcoin is intentionally oriented to make ASIC miners and similar devices maximally inefficient for the network. It is assumed that production units will be conducted solely on publicly available graphics cards (GPU mining).
According to supporters of such approach, it should prevent centralization of mining. However, Nesbitt believes that this greatly weakens the security of the network for attack 51% is also enough graphics cards, and no need for specialized devices.
Recall that in the current year were attacked 51% of the bitcoin and Monacoin (MONA), Verge (XVG), Bitcoin Gold (BTG) and, presumably, AurumCoin (AU). Moreover, the Verge was attacked three times. It is noteworthy that she, like Vertcoin, was hacked Twitter.