51% Attack – IntenseCoin Blockchain is DOWN

Unfortunately, they’re not alone in experiencing this type of situation and many alts go through the same nonsense. To me this looks like another textbook example of what a “51% attack” looks like. The Intense blockchain was essentially hijacked by a group of malicious miners (or A a single miner) who made up of more than 51% of the network hashing power. As such, they were able to steer the blockchain in the direction they wanted and this time there was no corruption other than what appears to be a time warp of sorts. Unfortunately, due to ITNS not having implemented the ASIC resistant Cryptonight V7 YET, they are still exposed to this type of attack.

51% Attack?

So you might ask yourself what this is and often hear it in the world of Alt coins due to small network size of the alt you may be mining. A 51% attack, if orchestrated correctly, can fork a coin and input bogus transaction information into the blockchain. What kind of bogus info? Enough info to effectively grant the malicious miner a large sum of unearned currency. If you can mine enough consecutive blocks with mal-intent you can effectively verify your BS transactions yourself and make them a permanent part of the blockchain. There are ways to fix this, but while this is happening things go bad pretty quickly.

Hash Attacks

Now, that may be the worst case scenario, but they can also do damage in a different way by pumping the hash rate up high and then dropping off the network. This hash rate increase will last long enough to increase the difficulty so high that it takes days to mine a single block in some cases. During that period of time, people will generally drop off the network because it no longer generates a reward for their mining effort. This happened quite frequently earlier this year with Alloy (Alloy Project) and they implemented the Zawy LWMA difficulty algorithm to curb the effect nasty hash attacks. Many Cryptonight coins use this difficulty algorithm at this time because of its efficiency at dealing with large hash rate swings.

Here’s to hoping the ITNS team can get their chain back up and running soon!