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Dash's cryptocurrency, one of the leading privacy-focused Bitcoin forks and also one of the top 20 coins by market capitalization, is at risk of a 51% attack according to a Reddit user who is managing the handle u /Flenst.
According to his research, NiceHash, a Slovenia-based cryptocurrency cloud mining market for hashing power has accumulated hashing power to dangerous levels due to the decentralized nature of the Dash network. A look at the CoinWarz statistics on the hash frequency of the Dash network, Dash averages about 1.9 PH / s. In the last 7 days, NiceHash has constantly maintained a hash frequency of over 1.2 PH / s representing more than 60% hashing of the network. Yesterday, the hashing speed of Dash dropped to a minimum of 1.67 PH / s, while the hashing speed of NiceHash at this particular time was recorded at 1.17 PH / s, which represents a massive 70% control of hashing power.
According to Flenst, NiceHash controls three of the top four to earn Dash tackles and probably also controls the fourth. Although the network is somewhat pseudonym, the user was able to associate the most profitable mining addresses to NiceHash by analyzing the few thousands of blocks extracted on the blockchain of Dash. He discovered that most of the coins extracted were sent to the following three addresses:
- XbUutDsgJbf7Sjjq4omhusNtkT8ih1d7oQ
- XkNPrBSJtrHZUvUqb3JF4g5rMB3uzaJfEL
- XeMPcKeVDN9bkECGDC7ggtf9QsX5thgKAx
Its logic on the three addresses discovered is that:
"This particular transaction has three of the four main addresses as input, which means that one entity controls all three .These three suns collect 53% and above [mining rewards]. You can also see that this started 6 months ago / about September of last year, and I think the fourth unknown pool belongs to this entity, but it is separate from the blockchain. He started collecting lots of hashes at the same time. "
Looking at the NiceHash graph on the amount of hashing power that the mining pool has been contributing to the network over the last day, that figure has decreased by 60% and now has an average of about 500 TH / s. The Dash community is obviously worried about 51% of attacks following a similar attack on Ethereum Classic that saw the blockchain lose more than $ 1 million to double spending. The developers of Dash have tried to integrate an update on their nicknamed blockchain & # 39;chainlocks' to prevent one of the parties from plunging this influence on the network.
