Bitcoin Gold

Bitcoin Gold Network Attacked Again 51%


The Bitcoin Gold team warned exchanges and mining pools of a 51% attack that began on July 2, and issued a notification to the community, noting that it was time for “everyone to upgrade their sites.”

A message about an attempt to establish control over the network appeared only after the attacker tried to distribute 1,300 blocks on the network. The developers released an update in which a block point was indicated on block 640 650, obtained on July 2, which prevented the attacker’s chain from capturing the main blockchain.

“Most bona fide pools continue to mine blocks in the original blockchain,” said CryptoDJ developer.

According to the official Bitcoin Gold website , there are only 108 BTG nodes in the world, and almost 30% of them are in Germany. The price of BTG did not seem to be affected by the attempted attack – cryptocurrency was trading between $ 9 and $ 10 almost the entire last week.

Recall that in January Bitcoin Gold has been subjected to an attack of 51% – if hackers took power hashing rent. In April, it was reported that Bitcoin Cash and Bitcoin SV became vulnerable to a 51% attack after halving the reward for miners. 

In the same month, PegNet miners, who controlled 70% of the hashrate, provided false price data that misled the decentralized network and converted $ 11 pJPY stablecoins into pUSD worth $ 6.7 million.

At the same time, according to a new study by the University of California, a full transition to ASIC miners for BTC mining in the future will help increase the cost of attack by 51% to 2,000 times, thereby increasing network security.

About author

Experienced Founder with a demonstrated history of working in the newspapers industry. Skilled in Data Research, Management, Investment Research, Teamwork, and Leadership. Influencing the technology, people, and technical analysis of the Cryptocurrency and Blockchain world.
Sign up for our newsletter and stay informed

0 0 votes
Page Rating
Notify of
Inline Feedbacks
View all comments
Would love your thoughts, please comment.x