A lot of research has been conducted regarding the future of cryptocurrency mining. Not all of these findings are overly positive. In the case of currencies using the Equihash algorithm, it seems a large amount of the combined hashrate is provided by ASIC hardware. It’s a worrisome development which could introduce a lot more 51% attacks in the future.
The Future of Equihash May Be in Peril
Cryptocurrency enthusiasts all over the world have witnessed an influx of 51% attacks over the past few months. Currencies such as Bitcoin Gold, Electroneum, and Verge have all suffered attacks. Although the full repercussions of these developments remain unclear, it seems highly likely that more 51% attacks are looming around the corner.