Is there any standing advice for such a situation. Are there any obvious warning signs to look out for while the attack is brewing? At what point do the developers shout “Incoming!” and dive into the nearest ditch?
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How does one "suspect" a 51% attack? The attack relies on mining a private chain so how can you suspect someone is doing that?– jtgrassieCommented Jan 17, 2019 at 15:15
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@jtgrassie You've unambiguously answered my 2nd question (i.e. “No”). Implicitly, that would mean that there can be no standing advice.– user1425Commented Jan 17, 2019 at 20:42
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1 Answer
For best security, a total of two pools shouldn't have over 50% hash rate because if these pools collaborate they would have enough hash rate to perform an attack.
Honest miners:
- Shouldn't mine at big pools.
- If possible should do solo mining, it's the best way to keep the network decentralized and in the long term it's the best profitable method. Also alternative to solo mining, recently Monero has p2pool which is decentralized, but keep note that it can have bugs.
