51% ATTACKS

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51% ATTACKS

Back in the end of May, Litecoin Cash (LCC) was a victim of an increasingly popular act, known as 51% attack, whereby a bad actor rented (or otherwise brought online) enough hashpower to be able to mine ahead of the network on a secret chain.

This attack was both a challenging and exciting time for us, as we wanted to provide an immediate solution to this attack, whilst also showcasing our technical abilities to be innovative. That is why we are delighted to announce our innovative solution to solving 51% attacks, called HiveMine.The Hive is a first-of-its-kind new security mechanism, that has been created and developed by our very own Litecoin Cash developers. It is an alternative method of mining to proof-of-work and proof-of-stake, that uses an agent-based block minting priority contest to validate transactions on the blockchain. This is reported on the official Medium Litecoin Cash.

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