Litecoin Cash (LCC) Experiencs 51% Attack, Cryptocurrency Dies on Spot
It was found recently that Litecoin was under a 51% attack. Several cryptographic forms of money have lately been under attack that used to be considered as more of a hypothetical situation than a genuine one, all this just happened in the recent month.
For each of the situations of attacks that have been recorded, the attackers have been possessing the needed capacity to accumulate the much-needed processing energy that will enable them to trade of these systems, slip off with a considerable number or just simply revamp their exchanges.
When we look through the Litecoin cash attack, the engineers have confirmed that it was a 51% attack. The number of system affirmation required also expanded to no less than about 100 just after the engineers had reached the trades. As for the other coins that have taken the 51% attack have taken the necessary relative measures.
But there is good news to all this
The good news is that it does not appear like Litecoin Cash will not conform to the long haul hurt as expected by many. As the group has taken the necessary steps to ensure the coin does not get significant hash rate spikes. With such an undertaking in place it tends to be less demand, but as we know, it is better done than said.
Thanks to the system highlight a hard fork of the code seems to be fast approaching. But the designers are yet to affirm on the hard fork again, but it is a distinct possibility. The coin has been designed with a new coin base that is prepared to go, and the good news is it will still incorporate some of the key highlights as it was initially arranged.
The attack is a big problem that is existing in the digital currency, and for sure the engineers of Litecoin cash have learned a significant factor in a complicated way. With all factors being kept equal the ability to dodge the 51% attack should be a priority for any coin developer in the market, as attacks are bound to happen. In some unclear circumstances, it was witnessed that inadequate conditions were actually set up.