The scene of the crypt has gone through a lot of this year and the bears have been particularly harsh in the cryptic market with cryptocurrencies that have been beaten up. Although Litecoin has not been spared from the bloodbath with an exponential decay in recent days.
Analysts have stressed that the currency still has an upward pull, although it is still swinging between gains and losses at the moment. Much of the resilience and progress of the currency, since integration is due to various factors, as well as to the nature of the currency and its Network.
Charlie Lee, the creator of Litecoin, previously spoke of the susceptibility of cryptocurrencies to miners of 51% of attacks on the labor chain. The creator of Litecoin explained the methods used to protect the currency network in its first days of integration on Twitter.
He pointed out that he implemented checkpoints that have had such an influence on the networks that 51% of the attacks by miners have been avoided until today. He explained that the early days of the integration of the test of the working chain were with lower hash rates that made the path towards attacks on the Litecoin Network wider.
He said in the tweet:
"In the early days of Litecoin (2011), there were 51% threats of attacks. To keep Litecoin safe, I used the checkpoints. The checkpoint is a centralized feature as it is based on the developer who decides which is the right chain. But for the beginning of the coin, it made sense. "
He also referred to the fact that he took into account the possibility of avoiding reorg in the code, but later decided not to accept it for the reasons that were best known to him. In a sense, its methods reflected the movement of Bitcoin Cash (BCH) developers in ensuring that their recent ABC implementation was tamper-proof.
Not a victim in the Hash wars
The recent report highlighted that an important supporter of the Bitcoin SV chain had threatened to make the ABC network obsolete. The ABC chain, however, has yet to be attacked because the hash power must be used in a relatively stronger way in the ABC chain.
In an effort to protect the BCH network from 51% attacks, the development team integrated the checkpoint into their operating modes. However, the downside of this protection mechanism remained that the network could be more centralized than allowed in the cryptographic sphere.
It is important to note that 51% attacks are attacks on a blockchain that gives 50% more control powers to a group of miners to manipulate transactions as they see fit. Since Litecoin was created as an alternative payment method, 51% of the attacks will not only weaken the network, but will make it obsolete in the near future.