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GHash.IO prevents 51% accumulation of the Litecoin hashing power
March 13, 2014, GHash.IO mining pool launched an offer, according to which users get doubled rewards for mining Litecoins. In one day GHash.IO became Litecoin mining pool #1. Unfortunately, we didn’t expect such a rush of Litecoin miners and are now forced to adjust the offer’s rules to prevent getting 51% of the Litecoin network.
Thus, from now on, the reward multiplier depends on the overall Litecoin pool speed at GHash.IO. If the speed varies between 0 and 40 GH/s, all Litecoin rewards will be doubled, as stated at the beginning of the offer. At the 40-60 Gh/s pool speed, the reward multiplier decreases to 1.25. Finally, if the pool reaches 60+ GH/s, GHash.IO will need to close the offer, since this rate is too critical for the double spending threat and the Litecoin currency in general.
We do our best to be a trustworthy pool and are not willing to destroy any cryptocurrency. Our actions coincide respectively.
Thank you for understanding!
March 13, 2014, GHash.IO mining pool launched an offer, according to which users get doubled rewards for mining Litecoins. In one day GHash.IO became Litecoin mining pool #1. Unfortunately, we didn’t expect such a rush of Litecoin miners and are now forced to adjust the offer’s rules to prevent getting 51% of the Litecoin network.
Thus, from now on, the reward multiplier depends on the overall Litecoin pool speed at GHash.IO. If the speed varies between 0 and 40 GH/s, all Litecoin rewards will be doubled, as stated at the beginning of the offer. At the 40-60 Gh/s pool speed, the reward multiplier decreases to 1.25. Finally, if the pool reaches 60+ GH/s, GHash.IO will need to close the offer, since this rate is too critical for the double spending threat and the Litecoin currency in general.
We do our best to be a trustworthy pool and are not willing to destroy any cryptocurrency. Our actions coincide respectively.
Thank you for understanding!
Why don't you close registrations instead ?
Yea, this is not right
It may even be me.
