Litecoin Miners Urged to Leave Coinotron Pool Over 51% Threat
Litecoin miners are being urged to leave the Coinotron mining pool due to an increase in its hash rate, which has been edging toward 51% of the network's total. Despite warnings from the litecoin community across forums like reddit, the pool briefly crossed the 50% mark this week - leaving the litecoin network vulnerable to a so-called '51% attack'. A 51% attack allows an attacker to make double-spend transactions, reverse transactions, prevent confirmations and corrupt the network. The total hash rate of the litecoin network stands at 212.947 GH/s and Coinotron's hash rate peaked at 115....
Related News
Coinotron is way too close to 51% of the Litecoin Network Hashrate. The Litecoin Community is currently coming together to deal with one of cryptocurrency's most existential threats: that of a 51% attack. At this point, Coinotron has not attempted any sort of malicious activity. In fact, Coinotron has stated that: "I have contacted with our biggest miners. We are working on solution to mitigate risk of Coinotron's hashrate raising over 50% of LTC network hashrate." However, in the days since that message, Coinotron's hashrate has not dropped at all. For the last several days, Coinotron has....
Read the press release by Ghash.io here. This is a WARNING to all Bitcoin Miners. We sincerely request that miners using Ghash.io leave the pool for other smaller pools to create a more decentralized Bitcoin hash distribution. The Bitcoin pool Ghash.io has in the last 24 hours had more than 42% of the entire Bitcoin mining power making them the biggest Bitcoin mining pool in the world. If they receive more than 50% of the mining power they will be able to double spend their Bitcoins and possibly destroy the Bitcoin value (so called 51% attack). View the recent hash distribution pie chart....
This is a press release by Ghash. IO and does not represent our views. Read our earlier post about the situation here: WARNING: GHASH. IO IS NEARING 51% - LEAVE THE POOL. Bitcoin mining pool GHash. IO is preventing accumulation of 51% of all hashing power. GHash. IO, the worlds largest and most powerful mining pool, has entered 2014 with overall hashing power of over 40%, making it the #1 pool currently in the Bitcoin network. The pool has gained significant hashing power due to the 0% pool fee, merged mining of alt coins, excellent real-time data presentation as well as quality 24/7/365....
Jiang Zhuoer, founder of LTC1BTC, a Litecoin pool that currently controls around 12% of the network, told CCN in an interview that his pool won’t upgrade to softfork segwit, nor will any primary Litecoin pool, adding that he has contacted them. Litecoin is meant to begin the Segwit softfork activation process in just under two days, but miners can already signal their support, with only two pools doing so far, Batpool and Litecoinpool.org, which in combination control around 18% of the network. F2Pool has the vast majority of the hashrate, currently standing at 46%. As such, their....
KNC is working with mining pools to improve the hash rate for their Titan customers after learning that customers saw hash rates under the promised 300MH/s. KNC is focusing on working with CleverMining as they're the largest pool on the Litecoin network. KNC has tested the Titan on several mining pools and has noted that certain pools perform notably better. WeMineLTC, GHash, and LiteGuardian are the highest performing pools tested while Coinotron and CleverMining mining pools are consistently lower. Also read: KNC Titans: Missed Quarter 3 Deadline and No Refunds. KNC Works with Mining....