This week bitcoin gold was hit with a 51% attacked, causing a market wide drop. This attack came after a similar attack on Verge (XVG) a few days earlier.
This sparked a debate on, which coins are safest from such attacks. One of those who contributed to this debate is Charles Lee, who argued that multi-Algo mining is part of what caused this vulnerability. Charles Lee took to twitter and stated that However, it turns out he was wrong. The reason why a multi-Algo blockchain like Verge was successfully attacked is not because they are multi algorithm, but because they had not implemented dark gravity well (DGW), an algorithm that adjusts difficulty.
This makes a 51% attack virtually impossible. With this technology, someone would need to take control of 93% of one mining algorithm, and 51% of the rest.
This requires lots of hashing power that is not just impossible, but also extremely expensive to even try. That’s why digibyte (DGB), can be termed as one of the most secure blockchains in the market.
It not only uses 5 mining algorithms, it also makes use a technology known as Digi shield. DigiShield is designed to curtail one algorithm from mining 5 blocks in a row, in a scenario where the attacker tries to overrun the blockchain, which is what happened to Verge (XVG). In essence, thanks to DigiShield, Digibyte is actually safer than even Litecoin, which according to the Digibyte founder, can be attacked by hash a rate fluctuation attack. Read more from cryptorecorder.com…
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