This week, Bitcoin Gold (BTG) was hit with a 51 percent attack, causing its market to drop drastically. The attack on Bitcoin Gold came after a similar attack on Verge a couple days earlier. This generated a debate on, which digital currencies are much safer and secure from such attacks.
The Reason for the vulnerability
Charles Lee is one of those that contributed to this debate, and he said that multi-algorithm mining is one of the factors that caused this susceptibility. Nevertheless, it turns out that Mr. Lee was wrong. The reason why Verge (a multi-algorithm blockchain) was attacked successfully is not that they are multi-algorithm, but because they didn’t implement dark gravity well (DGW). This makes a 51 percent attack almost impossible.
With this tech, someone would need to be in charge of 93 percent of a mining algorithm, and 51 percent of the rest. This requires so much hashing power that is not only impossible but also very expensive to try.
What Makes Digibyte (DGB) Stand Out
This is why Digibyte can be referred to as one of the safest blockchains in the market. It does not only use five mining algorithms, it also utilizes a technology which is known as DigiShield. This technology is designed to restrain one algorithm from mining five blocks in a row, in a situation where an attacker tries to overrun the blockchain, which is the case of Verge (XVG).
With DigiShield, DGB is even safer than Litecoin, which can be attacked by hash a rate fluctuation attack – according to the founder of Digibyte. Basically, this means if you are looking to put your money in a digital currency that is 100 percent safe and secure, then Digibyte (DGB) is a great option for you.
The digital currency is so secured that other digital currencies are using its technology – DigiShield. For instance, Zcash uses DigiShield.
Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.
