Goldcoin
$0.38047 -16.09%
GLC · 167w

GoldCoin Spikes, Delivering Improved Network Security And Transaction Speed

Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month.

This is a sponsored story. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the content below.

When Satoshi Nakamoto introduced his famous white paper in 2008, he noted that the steady addition of a constant amount of new coins is analogous to gold miners expending resources to add gold to circulation. GoldCoin, one of the fastest growing cryptocurrencies, adds value in just the same way, but its improved network speeds up the process and makes it even safer than that of the original bitcoin. Hence, investors trust GoldCoin and know it will continue to evolve in this manner.

GoldCoin, which has consistently spiked in value since its creation in 2013, is faster than BTC and LTC in confirmation times and is the only coin to provide a 51% attack defense system.

Preventing The 51% Attack

In a 51% attack, the attacker controls the majority of the network’s mining power, and since the network automatically chooses the longest blockchain to be the correct one, this gives the attacker control over transactions. This allows them to spend the same coins on an exchange over and over again.

GoldCoin’s 51% defense prevents an attacker from outracing the main blockchain, even if they pour all their hashpower into the network to make the difficulty spike. The defense keeps block times very close to the 2-minute target time, resulting in orphaned blocks instead of quickly increased difficulty.

Furthermore, since the 51% defense keeps block times close to the network adjusted time, the block times cannot be much faster than one every two minutes, making the process of outracing the main chain very long, difficult and expensive.

Combine this GoldCoin’s Golden River algorithm quickly dropping the difficulty back down after just a few blocks, and the attacker’s d...

Continue on ccn.com
Recent news
No posts found