Post
Topic
Board Announcements (Altcoins)
Re: [ANN] [CLOAK] Cloakcoin | No Premine | X13 | Decentralized Market and PoSA
by
Vinculin
on 13/07/2014, 21:09:40 UTC
so, the question of "what security risk" is involved in POS coins that every coin is susceptible to just got answered in the most brutal way possible.
?

VRC 51% attack just became a very real scenario, they don't need half the coins... just half the staking amount, of which more than 51% was stolen. I cant say whether that is the problem cloakdevs fixed or not, but I imagine it has something to do with that. It's at least a sobering reminder to keep your coins in your wallet...

Where did these details come from?

check the VRC thread?

wow. scary reading.

ya sick shit indeed , i wrote a week ago on there thread about 51% attack but everyone laughted at me

I think it's 8 million coins.  Not enough for 51% attack.  But, enough to cause some bad problems. Their hard fork roll back idea is a very risky move and likely will cause some bad problems by itself.  They're in a really bad spot I'm afraid.

Nope PoS attack can happen if someone holds more than 51% of the staking coins not the total no of coins.

In this case it is highly possible to happen.