Post
Topic
Board Announcements (Altcoins)
Re: [ANN]Faircoin - The First Fairly Distributed coin. MANDATORY UPDATE!
by
judit99
on 28/03/2014, 15:37:26 UTC
coin2 is not a pos coin, it's a normal ltc fork with premine

clearly, we could've been better in preparing and added checkpoints a few days ago
but we are not idiots, and we found the problem and fixed what we could fix

pos coins are generally safer than pure pow coins
however, this coin doesn't have pos blocks yet and therefore was vulnerable to 51% attack

the fix includes a hard checkpoint and lowering of pos min age so we start generating pos blocks
we're also buying some hash power until pos blocks start

all coins can be attacked in some way, in theory
but it's now much much harder and will only get harder as time moves on

How do you determine the attacker is not the FAC team? It won't happen again? and Only FAC team know the way.

Why don't you point out this doubt before having FAC on your exchange?
If you know the risk, why do you let your user risk it?
The users all trusted your exchange. That is why they trade on it.