VERGE Under Attack!!! Can it be the end of Verge XVG?
Verge is again under attack. The codebase of Verge is seriously flawed, and the developers aren’t doing anything to improve it other than partnering with Pornhub.
The attacker this time, is using 2 algorithms instead of 1, he is generating making millions.
There’s currently a >51% attack going on on XVG which exploits a bug in retargeting in the XVG code.
Usually to successfully mine XVG blocks, every “next” block must be of a different algo.. so for example scrypt,then x17, then lyra etc.
Due to several bugs in the XVG code, you can exploit this feature by mining blocks with a spoofed timestamp. When you submit a mined block (as a malicious miner or pool) you simply
set a false timestamp to this block one hour ago and XVG will then “think” the last block mined on that algo was one hour ago.. Your next block, the subsequent block
will then have the correct time.. And since it’s already an hour ago (at least that is what the network thinks) it will allow this block to be added to the main chain as well.
We will keep you posted when we have more news!
What is Verge XVG??
Originally named DogeCoinDark when it was created in 2014, it was rebranded Verge Currency in 2016. Verge is a decentralized open-source cryptocurrency that offers anonymous transactions by obfuscating the IP address and geolocation of its users so that they are untraceable using technology including Tor and I2P. It trades under the symbol XVG.
The price of Verge skyrocketed from under $0.01 to $0.28 in a matter of days in late December 2017.
Verge has a transparent ledger that allows anyone to view all of its transactions, but protects user identities and locations by integrating both Tor and I2P to not expose IP addresses. As for the specifics of how Verge offers that anonymity, it’s an open source project that leverages Tor, which hides your IP address by encrypting your traffic and bouncing it through a chain of computers around the world, and I2P, which differs in practice but offers the same broad strokes peer-to-peer routing. And using the so-called Wraith Protocol, Verge users can make either public or private blockchain transactions.