Coinbase, the largest cryptocurrency exchange in the USA, announced that it took precautions after 53.8% of the Zcash (ZEC) hashrate was seized by a mining pool.
In a post published on its official blog page on September 15, Coinbase said: ViaBTC The hash rate of a mining pool named Zcash network 53.8% He stated that he had reached this situation and that this situation poses a risk.
In order to keep this situation under control, Coinbase 110 blocks He stated that his approval would be sought. The deposit periods of this new precautionary measure will increase from 40 minutes to 2.5 hours It was said. However, the accumulation in the hash rate of the exchange “51% attack” It was argued that this measure should be implemented to prevent malicious use such as
In addition, Coinbase only processes Zcash transactions on the exchange. “limit transaction” brought it to the mood. It was also stated that this situation may have been done in order to prevent market manipulations related to the malicious use of hash power on the network.
Coinbase is also the creator of Zcash Electric Coin Company It was stated that he discussed the situation with him and made various suggestions. creative company, “Following Layer of Finality” and the network will now be restructured under the name proof of work (PoW) and proof of stake (PoS) is in hybrid One to the system He stated that it would be passed.
What is a 51% attack?
51% attack usually proof of work It is a type of attack that poses a threat to blockchains that adopt the method. Minimum hash rate on the network more than half When it comes under the control of a person or group, the risk of a 51% attack occurs. In this attack, those who control transactions on the blockchain manipulate the assets they actually spend by like it wasn’t spent can show.