Attempted 51% Attack On Bitcoin Gold Was Successfully Thwarted

An attempted 51% attack on Bitcoin Gold was successfully thwarted according to the developers in their latest announcement, saying that they knew it was coming for over a week. In our Bitcoin gold news, we take a closer look at the attempted attack.

Bitcoin gold alerted all of the exchanges and mining pools for the attempted 51% attack on July 2 and posted a notice to the community on July 10 saying that it was time for “everyone else to upgrade their nodes.” The team revealed the attempted network takeover to the public once the attacker that mined blocks since July 1, released 1300 blocks late Friday night. Developers also issued an update that featured a checkpoint at block 640650 on July 2 which prevented the attacker’s chain from taking over the honest chain.

Most of the honest pool hash power continued to mine on the honest chain according to the developer Crypto DJ. According to the cryptocurrency’s official website, there are only 108 bitcoin gold nodes in the world with 30% of them being in Germany. The price seems to have been unaffected by the attempted attack, trading between $9 and $10 since Tuesday.

As previously reported, The team of the BTG developers introduced a new soft work that is called ‘’Cross-Chain Block Notarization Protocol’’ in order to fight away any 51% attacks going forward. The forked cryptocurrency known as BTG captured the attention of the entire crypto community for a number of reasons. During the last week of January, Bitcoin Gold’s blockchain got attacked after malicious miners were able to double-spend more than $72,000 worth of BTG at the time. The last time that Bitcoin Gold was attacked and lost more than $18 million worth of BTG while many of the speculators blamed the hashrate rental service Nicehash for the problems.

Bitcoin Gold (BTG) is one of the popular coins and a digital asset that trades within the largest 50 cryptocurrencies on the market. Today, we are talking more about it and featuring a real story from one of the creators of BTG. It is Alejandro’s job to inform people about BTG and there is nothing that he is as passionate about as pushing towards widespread adoption.