Bitcoin News
By Maheen Hernandez
1 / 12
Bitcoin Gold (BTG) fork is not Good News!
2 / 12
Bitcoin Gold developers stated that they stopped an extremely long block reorganization attack.
3 / 12
Vitalik Buterin in response tweeted: “51% attack on BTG defeated by a user-activated soft fork providing a check point and hence explicitly banning the attack chain.
4 / 12
In response to the Buterin reply Jakup a community member opined, Fine, if you can distinguish between "good chain" and "evil chain". But that's generally not the case.
5 / 12
However, Vitalik Buterin took to reply stating that in 51% attacks it is possible to absolutely distinguish about which is the good chain and which is the evil chain
6 / 12
While Buterin was looking at the positive aspect of how the attack was prevented, community members looked in to how the fork was executed in a small time frame, which means that…
7 / 12
Many people do not feel it is good news and feel that BTG escaped not because of the security and robustness of the network but because of the vigilance of the developers.
8 / 12
Yet another community member alerted on how the tokens and stacks can be rented and used to manipulate the network.
9 / 12
The developers who find a threat have to hardfork. This just means that the developers act like the third party when it comes to reallocating assets.
10 / 12
In his view, Sydney Ifergan, the crypto expert tweeted: “Vitalik Buterin gave a theory on why PoW attack costs should be lower than PoS attack costs in response to the BTG event.
11 / 12
The purpose of immutability is put to test. While the fork prevented an attack, the control seems to stay in just a few hands.
12 / 12
In PoS, the attackers are large stake holders who are able to control the network by exerting their influence.
The Currency Analytics
Want the full story?