After having been down for over two weeks the multi-coin mining pool Coinotron is back online. Coinotron went down following a prolonged DDOS attack (Distributed Denial Of Service). The attack is thought to have been related to the pool’s adoption of Novacoin. Novacoin is a relatively new crypto currency that has been accused of being a scam. Here’s a quick synopsis of Coinotron and Novacoin.
Novacoin And BTC-e
Novacoin is an alternative crypto currency created by Bitcointalk user Balthazar. Like Litecoin it uses a scrypt encryption algorithm to process transactions. The controversy surrounding Novacoin came after it was revealed that there had been significant premining of the coin. Premining is the practice of mining a coin prior to its public release and has traditionally been heavily frowned upon. Shortly after the launch of Novacoin it opened up for trading on the popular trading platform BTC-e. Many claimed that BTC-e or users on BTC-e were keeping the price artificially high as it was quickly trading at an exchange rate greater than any other alternate crypto-currency. What’s more is that BTC-e had rejected requests to trade other alternate coins which had a longer history and presumably a stronger user base.
On February 14th Coinotron first went down from a reported DDOS attack. It managed to resurface once or twice over the last couple of weeks but would quickly go back down. It appears that the DDOS attack was done in retaliation for supporting Novacoin mining which is considered by many to be a scam coin. The BTC-e trading platform had also gone down following their support for Novacoin.
Coinotron Back Online
Today Coinotron is finally back online with workers checking in again. The downtime has most certainly hurt the hash rates of several of the mining pools. Most notably the Bitcoin mining pool is devoid of any hashing power. Given the competitiveness of Bitcoin mining, it will be interesting to see if Coinotron can rebuild a group of Bitcoin workers. In any case, the pool now has DDOS protection thanks to the help of user Neotrix.
Coinotron coming back online is good news for the LTC, TRC, PPC and FRC communities. In particular there have been recent worries that Litecoin mining pool NoTroll was gaining too much of the network hash power. Likewise the relatively new crypto currency Terracoin has limited options with just Coinotron, Bitcoin Reactor and a version of P2P pool supporting it.
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