According to data from the analytical company Quinn Matrix, the Bitcoin network has faced a 51% attack. It is worth noting that the various dimensions of this attack have not yet been confirmed.
to the Report CoinDesk tweeted this morning that Lucas Nuzzi, director of data at Coin Metrics Network, tweeted that a large amount of processing power had entered the Bitcoin network.
Coin Metrix wrote in his subsequent tweets that using the FARUM tool, they noticed that the order of 14 blocks in the network was broken. Coin Metrics uses this tool to monitor Blockchain networks.
According to Coin Matrix, the attack is over now, but the extraction pools are still confused. In an interview with Quinn Desk News Agency, Notzi said that mining pools now operate in a completely different block number.
Attacks occur 51% of the time when in a proof-of-work network, an attacker gains access to more than 50% of the network hash power. The attacker can use this hash power to change the order of the blocks. By changing the order of the blocks, you can return the desired transactions and re-spend the currencies.
When two copies of a block are extracted from the proof-of-work network, the system defaults to a larger chain as a valid chain. Because the attacker has more than 50% of the network processing power, it extracts blocks faster than non-attack miners and builds longer chains; In this case, the network considers the blocks of non-invasive miners as an invalid chain.
The Bitcoin Association has advised nodes to consider the fraudulent chain as an invalid chain and continue to operate on the valid chain.
It is worth mentioning that Bitcoin Sue, which is a hardfork bitcoin cache, fell victim to 51% attacks 4 times last month. Coin Matrix says it is not yet clear who attacked the network. However, the company is monitoring the attacker’s activity to see if there is a trace of re-spending the exchanges’ inventory on the network. Notzi says the large mining pools of this digital currency are trying to stay on top of the previous chain.
According to Bitinfocharts statistics, the bitcoin network hash rate dropped by about 50% on Mondays and Tuesdays. Notzi, however, believes that it is not easy to estimate a reduced hash rate due to the disruption of the block sequence after the attack.