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Ethereum Classic (ETC) started the year as the first crypt to hit with a 51% attack. This follows a series of similar attacks on other POW cryptos. The most notable was the attack on Verge (XVG) which led to a huge drop in its price. Verge never really recovered from that attack considering it happened in the bear market. With the risk that such attacks always stick like a dark cloud over a crypt, it is natural to wonder, what are the safest crypts in which to put money, and stay safe from such attacks? Well, one way to protect yourself from such an attack would be to go for POS coins. However, even these coins have their vulnerabilities. As such, the strong currencies of prisoners of war are the most promising. Two coins that are less likely to be attacked are Bitcoin (BTC) and Monero (XMR)
Bitcoin (BTC)
Bitcoin (BTC) is the most secure cryptocurrency on the market. No entity or combination of entities would increase the hash power needed to perform a 51% attack on Bitcoin (BTC). Essentially this makes Bitcoin (BTC) the safest cryptocurrency to be kept at risk against the risk of a double expense attack. This also gives her the potential to achieve a higher level of adoption and outperform the rest of the market.
In essence, not only is Bitcoin safe from a 51% attack, but it also has the potential to grow in a dominant position and eat in the market share of most overcoins. For example, once the Lightning network has increased, Bitcoin (BTC) could kill most of the altcoins that use transaction speeds and costs as a selling point. These possibilities make it one of the safest encrypts to keep in a portfolio.
Monero (XMR)
Monero (XMR) is another prisoner of war
currency that has a low risk of an attack of 51%. This is because Monero is resistant to ASIC.
It also constantly updates the network to ensure that it remains ASIC
resistant, thus eliminating any possibility of a single ASIC group entity
miners who work together to attack the network. To attack Monero (XMR), the
malicious entity should acquire or hire enough GPU power to control 51%
of the Monero network, and it is not an easy enterprise to achieve. It simply is not
How much GPU power is available there. Furthermore, it would be so vast that it would be
be easily noticed, and contrasted.
Basically, these two
the encrypted offer many promises for investors who seek security from malicious
attacks. Others who are relatively safe from such attacks include Litecoin
(LTC), Ethereum (ETH) and Cardano with its POS algorithm Ouroboros.
It is interesting to note that these are
even the criptos that have more promises in terms of real market adoption.
Especially bitcoin is the largest cryptocurrency that is gaining ground
at the institutional level. Even Monero (XMR) is getting the adoption, e
has good chances for even greater growth thanks to its privacy and capabilities
the fact that it is fungible
