From what I understand- the chain is being attacked by someone who, most likely, just doesn't give a crap and likes to mess other peoples work up.
Any moment now I expect to see LukeJr rear his head and claim credit for this
I disagree PPCoin is SHA256 and as far as I am aware it's impossible to 51% attack computationally because PPCoin relies upon proof of stake not just proof of work. So if an ASIC gets >51% of the hash rate they can't screw anything up. So that is the major threat averted.
Additionally if an ASIC jumps on and ramps up the difficulty and then goes off, PPCoin has it's intelligent difficulty adjustment scheme which has been coping admirably with such events.
Additionally if an ASIC jumps on and ramps up the difficulty and then goes off, PPCoin has it's intelligent difficulty adjustment scheme which has been coping admirably with such events.
It must be true otherwise it would have been destroyed by LukeJr already