{"id":57031,"date":"2018-05-31T04:08:45","date_gmt":"2018-05-31T11:08:45","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=57031"},"modified":"2026-04-16T15:44:17","modified_gmt":"2026-04-16T14:44:17","slug":"litecoin-founder-charlie-lee-ltc-network-extremely-secure-mining-healthy","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/litecoin-founder-charlie-lee-ltc-network-extremely-secure-mining-healthy\/","title":{"rendered":"Litecoin Founder Charlie Lee: LTC Network Extremely Secure, Mining Healthy"},"content":{"rendered":"

Litecoin<\/a> founder Charlie Lee<\/a> has taken to Twitter to address community concerns regarding the Litecoin network sparked by a cryptocurrency security site that tracks the cost of launching a 51% attack against proof of work cryptocurrencies.<\/p>\n

Crypto51<\/a> tracks the cost of executing a 51% attack against a number of proof of work cryptocurrencies, including Bitcoin<\/a>, Ethereum<\/a>, Bitcoin Cash<\/a>, Litecoin<\/a>, Monero<\/a>, and Dash<\/a>. The site, launched recently, catalyzed a wave of concern within the cryptocurrency due to the relatively\u00a0low cost of attack execution \u2014 a one hour attack targeting the Litecoin network could theoretically cost as little as $61,000.<\/p>\n

The threat of a 51% attack targeting the Litecoin network, according to Lee, is relatively low \u2014 Lee highlights the strong distribution of pools, the high capital cost of a potential attack, and the rapidly increasing Litecoin hashrate:<\/p>\n

\n

In lite of recent 51% attacks and https:\/\/t.co\/yfy2GcBfQE<\/a> info, rest assured that the Litecoin is extremely secure and mining is very healthy. \ud83d\udc4d\ud83d\ude80
– Pools are well distributed (largest 22%)
– Hashrate up 50x (past 1 year)
– High capital costs to attack ($322-761MM + ~$38-50k\/hr) pic.twitter.com\/hD8IrYM8dD<\/a><\/p>\n

— Charlie Lee \u24c2\ufe0f\ud83d\udd78\ufe0f (@SatoshiLite) May 30, 2018<\/a><\/p><\/blockquote>\n