The last months have seen an intensive onslaught against minor cryptocurrencies like Electroneum, Bitcoin Gold, Verge, just to name a few. The crypto world is alarmed, and certain individuals have spoken out to address the issue. The suggested solution? Delayed Proof of Work.
This should be an effective solution to shield these smaller cryptocurrencies from what the crypto world knows as the 51% attack. This is caused by a variety of factors like a collision between several miners, hitting of the network in quick succession by ASIC miners, as well as a mining pool acting up.
This is very detrimental to the health of smaller cryptos which rely on proof-of-work mining. A couple of incidences have already been recorded and taken careful note of, and the possessors and enthusiasts of these coins are keen at making sure that this will not occur any longer.
The Komodo team suggested Delayed Proof of Work (dPoW) as the solution since a couple of projects are already implementing the solution at this very moment. Integrating the feature into the smaller cryptocurrencies can be easily done, even though it would cost about 100 KMD to avail of the feature.
However, it is yet to be seen if this could be a formidable defense to counter these malicious attacks. Komodo is hopeful and confident in the solution that they have offered.
(Photo Credit: Thief)