Long-tail cryptocurrency is 51% attacked: Vertcoin edition-9.69

With the fall in cryptocurrency prices and ensuing drops in mining hash rate (as marginally profitable miners shut down), crypto-networks remain more vulnerable to attack than earlier this year.

While hash rate may go up in absolute terms due to improved ASIC efficiency (in August, Bitcoin hash rate was up 4x from January 1st), hash rate is just a proxy for network security. The key metric to note is security spend, quantifying how much money is spent on mining opex and capex to secure the network.

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