CryptoCurrency

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Any opinions on NANO here? (lemmybefree.net)

submitted 5 months ago by Electricd@lemmybefree.net to c/cryptocurrency@lemmy.world

9 comments fedilink hide all child comments

cross-posted from: https://lemmybefree.net/post/1021813

Wanting to learn a bit more about it and discuss with people to know what they think about it

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[–] mlody@lemmy.world 2 points 5 months ago (1 children)

What do you think about current situation of Monero? Right now people are talking about possibility of 51% attack. Do you think that could happen?

[–] Electricd@lemmybefree.net 1 points 5 months ago* (last edited 5 months ago)

I think PoW sucks and this is a perfect example of it. It doesn’t cost a lot of money to attack some PoW chains currently. Just spike for a few minutes and boom. With PoS, you have to hold so you actively lose from attacking the blockchain, as lowering the value of the crypto impacts you negatively heavily

I think it’s a nice test for Monero and PoW blockchains

I didn’t learn too much about 51%, but my guess is that they can pretty much cause massive reorgs from now, on demand, if they keep doing it. Afaik they reached 34% not 51% but still, it created some problems with the blockchain.

It could very well happen and what’s frightening is that they’re not super rich either