Monacoin System Still Suffering From Selfless Mining Attack
May 23, 2018 5:35 am,
A few days before, a fresh topic was released on the Monacoin subreddit. In this support, it was clarified how there was a continuing problem with the network. One of the mining pools is withholding blocks. As such, network dealings are not managed correctly, which causes all kinds of anxiety. With one pool regulatory the network, a lot of topics can be formed in quick sequence.
Other topics comprise faulty confirmed payments and double spends. This latter part is a big problem, as it successfully causes the same value to be spent twice or more. Connections often notice the correct number of transaction authentications, but that doesn’t mean the value is fine being encouraged. This can be demoralized to attain “fake” stabilities on trading platforms and use those to purchase other currencies.
There are behaviors to provisionally deal with these issues. Growing the number of network validations to 100 or more will avoid a lot of issues. Whether or not connections and online services will do so, is a different matter overall. Even so, it is a passing countermeasure and not a key to the actual problem.
For the Monacoin community, it is obvious this problem wants to be determined. That may want some form of a hard fork delivered by the developers. Most consistent users will not unavoidably be affected by these issues, though.
Concerns like these are not unusual in the cryptocurrency world. Altcoins frequently continue prone to major attacks, while those problems can be set pretty quickly. Whether or not the Monacoin developers have a plan of action, remains to be firm. So far, no variations have been presented in this respect, and the issue still remains there.