As you may aware well that those cryptocurrencies base on equihash are invented to prevent mining dominance of few powerful ASIC based mining pools. However a lot of those equihash based cryptocurrencies have been compromised in recent months with 51% attack or majority attack. 1)
51% attack can be possible with powerful mining pools and powerful hash power from powerful computing performance and cryptocurrency world seems to to have their own trolls rampaging through different cryptocoins.
With this 51% attack on equihash based coins cryptocurrency community has face really serious question on their sustainability. With those mining trolls and whales would the decentralization of cryptocurrency be sustainable in the long run?
51% attack on cryptocurrencies widespread just like epidemic in recent months. 2) The situation has been worsen because of recent bitcoin price fluctuation within the boxed price ups and downs between 6,000 and 7,000 dollars a bitcoin. Considering the averaged cost of bitcoin mining around 8,600 USD by Morgan Stanley 3) ( Yes, It is the very Morgan Stanley of US) those whale mining behemoth won't just sit and watch what is going on about the bitcoin price ad other development on cryptocurrencies.
Deadly Ebola Virus
Who is behind this 51 % attack on equihash cryptocurrency?
This question seems not that difficult to answer. Equihash based cryptocurrencies need more memories on their mining rig however most mining rigs of powerful mining pools still have their general purpose PC based rigs. ASiC based equihash mining rigs are still new development. With the couple of hours use of existing PC based mining rigs fully dedicated to equihash based currencies will do the tricks. For those ming pool whale 10 or 100 thousand mining rigs can be assigned to do anything.
Bitcoin mining pool
Equihash algorithm is known to be memory oriented and should not work with ASIC based mining pools however general purpose PC based mining rig could be diverted to equihash 51% attack. Proof of work for equihash is more based on number RAM at mining rig but what if miners can reassigned their 100 thousand PC mining rigs to equihash?
I can assure you that with bitcoin price far below ,8600 USD mining cost a lot of 51% attack will reoccur to whatever cryptocurrencies out there no matter what cryptographic algorithm they are based on.
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