If you were around in 2018 or early 2019, you likely remember the hype around MimbleWimble. MimbleWimble is a privacy technology for cryptocurrencies that is attempting to one-up the technologies use by networks like Zcash or Monero.<\/p>\n
The technology gained quite a bit of traction in 2019 when two cryptocurrencies using Mimblewimble launched, Grin and Beam. The first of the two was seen as more decentralized, with a founder making a Satoshi-like exit. The latter of the two was seen as more centralized, with a firm once backing development.<\/p>\n
Even though they were launched in the throes of a bear market, the coins gained quite a large amount of traction.<\/p>\n
At its highs, GRIN had a market capitalization of $80 million. BEAM shared a similar fate, rallying to a market capitalization just shy of $60 million.<\/p>\n
While both now have a market capitalization of approximately $15 million apiece, they have still come under fire from attackers.<\/p>\n
Grin<\/a>, for one, was just reported to have seen a 51 percent attack.<\/p>\n Yesterday, an altcoin-focused mining pool 2Miners began to report that the Grin Network had come under 51 percent attack.<\/p>\n A blockchain can be 51 percent attacked when one entity acquires more than 50 percent of the network's hash rate, allowing them to outpace the other miners to build a blockchain for malicious purposes.<\/p>\n Grin Network Is Under the 51% Attack!<\/p>\n Payouts are stopped. Please mine at your own risk only because the new blocks could be rejected.@grincouncil<\/a> @grin_hub<\/a> @Hotbit_news<\/a> @Poloniex<\/a> @kucoincom<\/a> @gateio_info<\/a> @CoinBene<\/a> pic.twitter.com\/6seDSRe8Qw<\/a><\/p>\n — 2Miners (@pool2miners) November 8, 2020<\/a><\/p><\/blockquote>\nGrin 51% attack goes crypto-viral<\/h2>\n
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