The following is a structured excerpt from an internal meeting between the core $PAC team/devs. We are sharing this information with our community in an attempt to improve transparency, investor sentiment and to ensure you all that we are proactively combating all known issues with the $PAC network and prioritizing the network security from known industry-wide blockchain exploits and threats.
Dear $PAC community,
Here is a summary of key development updates for the $PAC payment network spanning late Dec 2018/early Jan 2019.
As of today the focus for our core team will be to solve the 51% attack issues that are plaguing the entire cryptocurrency space right now. To put things into perspective, $PAC is not the only project that has seen hindered exchange activity as a result of 51% exploits. Just recently ETC (Ethereum Classic) saw a 51% attack (link to article), their solution as an interim fix was to dramatically increase confirmations for deposits/withdrawals from their key exchange partners (up to 400 confirms in some cases!!).
Does this sound familiar?
The $PAC team has implemented the same interim fix for our network across some of our exchanges. Whilst this is not a direct fix, it reduces the risk for our exchanges to be targeted and bad-chain coins from being ‘dumped’ on the market.