Why Litecoin is more secure than Bitcoin Cash and Bitcoin SV

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Charlie Lee announced that Litecoin controls 98 percent of the hash rate for its "Scrypt" mining algorithm.

On Aug. 12, Litecoin creator Charlie Lee announced that his coin had over 98 percent of the market share of its unique ASIC-dominated mining algorithm 'Scrypt.

Here's the current state of Scrypt mining after the Litecoin halving.

Litecoin still dominates the Scrypt mining scene with 98.57% of all Scrypt hashrate pointed at mining Litecoin.

Another more exotic attack described by Ethereum co-founder Vitalik Buterin is described as "Selfish mining," where a miner with less than 25 percent or less of the network hash rate can coerce other miners into cartelization by manipulating how blocks are found.

For smaller coins these attacks are even easier because a large miner on a dominant coin can easily control more than 50 percent of a smaller coin's hash power.

In Bitcoin full node operators could reject blocks from hostile miners, says Vorick.

The value of the cryptocurrency the miner is attacking would also likely plummet, decreasing the long-term profitability of that miner's highly specialized mining equipment.

Assuming the coin has a dominant position for its mining algorithm, if a miner were to conduct an attack it would damage the value of the cryptocurrency they are mining.

In these scenarios, it makes sense for a miner to switch from mining a dominant coin, such as Bitcoin, to a secondary coin, like Bitcoin Cash, to conduct an attack.

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