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- A user of Reddit, u / Fluent revealed that NiceHash controls over 51 percent of the total hashrate of Dash
- u / Fluent says it's possible for a bad actor to launch a 51% attack on Dash (DASH)
A Reddit user with user with u / Flenst username revealed that only an entity, NiceHash controls over 51% of the total sway on the Dash network and there is a considerable possibility of a double-expense attack also known as a 51% attack on Dash (DASH) if the cure is not taken, according to a Reddit post on 9 January 2019.
Another 51% attack in the pipeline?
According to the user of Reddit u / Fluent, while he was researching the recent 51% attack on Ethereum Classic (ETC), has discovered that Dash (DASH), the fifteenth largest cryptocurrency in the world, could also suffer the same fate in a short time if adequate measures are not implemented.
Like when Fluent published the post, NiceHash, a cryptocurrency mining market that allows users to sell or buy computing power (hashing power) to extract a wide range of cryptoassets including bitcoins and ether, holds over 70% of the total hash Dash (1390TH / s versus 1790TH / s total).
"This is the first problem, and it's rare," Fluent said, adding "Usually, nicehash holds about 10 – 20% of PoW nethash coins and is only dangerous for the smaller PoW coin forks."
Fluent has also explained that if this massive hashrate is directed to numerous consolidated and credible mining tanks, there would be no need for panic, however, relying on him, he discovered that only about 560TH / s of the total 1790TH / s was managed by pool Note.
All extraction prizes go to one entity
According to the researcher, digging deeper into his discoveries, he managed to discover the four addresses that are gathering all the mining prizes, but he was able to connect only 3 via the block explorer: https://dashradar.com/explorer/tx/31de30b48c9263544724c0e607a9cb1f7bf05dc2961119827c52571334506172
Fluent noted that the aforementioned transaction had "three of the four main addresses as input, which means that one user controls all three." These three suns collect 53% and more, "he said.
He concludes by saying that the ASICs and the NiceHash platform are cancerous for all the smallest bitcoin coins, as they can be used to make a 51% attack.
"NiceHash is a cancer.A bad actor could easily hire enough hash power for DASH to immediately run a 51% attack."
Such as reported of Blockchain Reporter January 8, 2019, Ethereum Classic (ETC) suffered a serious 51% attack that resulted in the reorganization of over 100 blocks on the network.
