Ninjastic
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Board Announcements (Altcoins)
Re: ANN - LEOcoin - Official announcement regarding LEOcoin from LEOcoin Foundation
by
LEOcoin Foundation
on 14/05/2016, 07:41:06 UTC
Quote from: Hero_Member on May 13, 2016, 07:50:43 PM
Quote from: LEOcoin Foundation on May 13, 2016, 07:18:53 PM
Quote from: Hero_Member on May 13, 2016, 01:09:53 PM
>> (Yes, we all know it is not listed on CoinMarketCap's frontpage, but with a calculator anyone can see how much 72806240.030627 LEOcoinx 0,2735$ is.)
Reminder: That includes 50,000,000 premined coins.  Cheesy Cheesy Cheesy

Correct, there has been a premine of 50,000,000 LEOcoins. They have been distributed as stated by Dan Andersson in the interview that was exclusively made for this thread.

The good thing about the premine, besides that 10,000,000 of them are now held by the LEOcoin Foundation, is that it prevented the botnet miners to take over the blockchain, once they got 51% of the POW hashes.

Even when 51%-attacks are perhaps a mere theoretical exercise, currently Bitcoin and the two chinese mining pools with a combined total of over 51% is in a less fortunate situation.

Could you explain how premine prevents 51% POW attack? Thanks.  Wink

I have not stated, that premine prevented 51% POW attacks, but that the premine prevented the botnet miners to take over the blockchain, once they got 51% of the POW hashes.

There have been several attacks on LEOcoin, I presume, just as there have been DDOS attacks on most pools, except for one and also on exchanges that sell/sold LEOcoin.