Coinbase Introduces Measures to Counter Double Spending Attack on Zcash!

The post Coinbase Introduces Measures to Counter Double Spending Attack on Zcash! appeared first on Coinpedia Fintech News

Cryptocurrency exchange Coinbase has introduced measures to counter the risk of a double-spending attack on privacy coin Zcash after a single mining pool took control of 53.8% of the blockchain’s hash rate. The exchange announced it would require 110 block confirmations for a deposit of Zcash, a process that would take around 2.5 hours instead of the previous 40 minutes. Coinbase has also moved Zcash trading pairs into limit-only mode to mitigate any volatility in the event of large sales made as part of a double-spend attack. The exchange also engaged with Zcash creator Electric Coin Company and the ViaBTC mining pool.