THELOGICALINDIAN - Voluntarismdev has launched an continued 51 advance on BCHABC
Rogue associates of the Bitcoin Cash association accept called to abide a attack adjoin Bitcoin Cash ABC, afterward the breach amid anniversary blockchain in mid-November.
Details of the Bitcoin Cash Attack
The accumulation amenable for the advance is Voluntarism.dev, which describes itself as a aggregate of “old-guard miners and whales” from the Bitcoin Cash community.
Voluntarism.dev takes affair with BCHABC’s accommodation to apparatus a miner tax that redistributes block rewards to a anew created development fund. Though November’s hard fork prevented Bitcoin Cash itself from demography on that feature, Voluntarism.dev aims to anticipate BCHABC from adopting the affection as well.
Earlier this week, Voluntarism.dev agitated out a 51% advance on BCHABC, accepting ascendancy of a majority of the blockchain’s hashrate. The accumulation acclimated that ability to adapt BCHABC’s accord rules.
Those adapted rules accelerate 100% of BCHABC mining rewards to the coin’s development armamentarium (rather than 8% as intended). The action is meant to anticipate miners from accepting any rewards while the advance is underway, which could attenuate the bread entirely. However, it is not bright whether the advance had the advised result.
The advance has been advancing back Nov. 24, but the character and action abaft the advance were cryptic until now.
Is the Attack Effective?
Though the advance hasn’t absolutely debilitated BCHABC, Voluntarism.dev suggests that its accomplishments will be achievable for years to come:
Vitalik Buterin of Ethereum acclaimed that the advance is the aboriginal “spawn affected attack” on a cryptocurrency, apropos to a video bold tactic that describes players accustomed out the aforementioned advance repeatedly.
The advance is apparently affordable because ABC has a low assortment amount and actual little bazaar value. Bitcoin Cash is the 5th better coin, boasting a bazaar cap of $5 billion and a hashrate of 1.6 EH/s. BCHABC, meanwhile, is the 210th better coin, with a bazaar cap of $322 actor and a hashrate of 0.4 EH/s.
Given Bitcoin Cash’s massive advantage, it is not yet bright whether BCHABC will be able to abide added attacks—even if those attacks are agitated out by a baby band of the community.
