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One Miner Possesses More Than Half Of Dash Hashrate

18:10 11/01/2019

One miner or a group of miners controls more than half of the Dash network hashrate, which poses a threat of a 51% attack. This was noticed by a user of the Reddit forum under the nickname u/Flenst, who conducted his own investigation.

 

The overall performance of the Dash crypto network is 1900 TH/s, of which 1000 terahashes belong to the mining capacity of the Nicehash mining pool. After analyzing the reward for the mining of blocks, which the pool distributes between 25,000 addresses, u/Flenst found out that the biggest reward goes to three wallets owned by the same miner.

Source : www.reddit.com

Initially, u/Flenst reported controlling 53% of the network, but a day later he specified that the anonymous miner already owned 63% of the Dash hashrate. To date, these addresses have minted more than 26,600 coins worth $2.2 million.

 

The user is worried that such a monopoly will allow the miner to launch a 51% attack, thanks to which the hacker will be able to double spend tokens on the network. Moreover, Dash management may not be able to take security measures, so users and companies using Dash services should be extremely careful.

 

It is stated in the blog that the Dash power control became possible thanks to the mass purchase of ASIC miners by the pool, which work with the X11 algorithm. When a similar situation occurred with the Monero network, the developers secured the network against 51% attacks by means of hard fork and switching to another algorithm.

Last October, a hacker conducted a public broadcast of a 51% attack on Einsteinium to show the vulnerabilities of network security systems. At the end of 2018, the EMC2 cryptocurrency became easy prey for hackers, which lost 97% of its maximum value because of attacks.

 

As previously reported, about 5% of Monero coins were mined illegally.

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