🔥 Cardano's founder praises the strength of the "Midnight" network after a 51% attack on Monero! 🔥
Cardano's founder, Charles Hoskinson, highlighted the importance of having stronger defenses for blockchain networks after the major attack that the Monero (XMR) network suffered.
He commends the "Minotaur" protocol used in the Cardano "Midnight" network, which relies on a multi-resource consensus system that combines Proof of Work (PoW) and Proof of Stake (PoS), preventing any single entity from controlling the network.
🛡️ This design enhances security and makes it difficult for any attacker to take control of the network in a single way.
📉 The Monero attack caused the coin's price to drop by more than 5% in a single day, amid significant concerns about blockchain reorganization and the possibility of double spending.